Retailing and Operation Division

Saudi Automotive Services Co. (SASCO) announces the latest updates of the options study of sell and leaseback some of its owned sites

19 December 2021
Retailing and Operation Division

ELEMENT LIST

EXPLANATION

Introduction

SASCO refers to its announcement at Tadawul website on October 31, 2021, regarding the latest updates regarding study of sell and leaseback some of its owned sites, According to SASCO and Falcom did not agree on the final version of the contracts and did not reach a satisfactory solution for both parties, On December 19, 2021, SASCO's Board of Directors decided not to complete the deal with FALCOM and to continue attracting offers from other parties.

SASCO confirms that it seeks to continuously maximize the interests of its shareholders.

Previous Announcement

the latest updates of the options study of sell and leaseback some of its owned sites

Date of Previous Announcement on Tadawul's Website

2021-10-31 Corresponding to 1443-03-25

Percentage of fulfilled achievement

Not applicable

Event's Expected Completion Date

SASCO will announce any updates regarding this matter.

Reasons for Exceeding the Announced End Date

Not applicable

The costs associated with the event, and if they have changed or not with indication of the reasons.

Not applicable

Impact of the Delay on the Company's Financial Results

Not applicable