Jarir Marketing : Announces Contract Sign Off with Jarir Real Estate Company
October 26, 2021 at 01:46 am EDT
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A4190 JARIR1.4 (0.69 %) 1443/03/20 Tue Oct 26, 2021 08:28:58
Jarir Marketing Co. Announces Contract Sign Off with Jarir Real Estate Company
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Explanation
Introduction
Jarir Marketing Co. Announces Contract Sign Off with Jarir Real Estate Company(Related Party)
Date of Announcement of the Award
2021-10-25 Corresponding to 1443-03-19
Contract Subject Matter
Land sale contract
Date of Signing the Contract
2021-10-25 Corresponding to 1443-03-19
Contract Value
97,925,698 Riyals
Contract Details
Jarir Marketing Company signed a contract to sell a piece of land owned by it, located in Riyadh, Al-Yasmeen District, with an area of (10,542.50) m2
Contract Duration
-
Financial Impact and the Relevant Period
Profit results from the sale amount to (38,492,355) riyals.
The financial impact of
the contract will appear during the fourth quarter of 2021
Related Parties
Jarir Real Estate Company "the buyer" is 100% owned indirectly by some members of the Board of Directors of Jarir Marketing Company, and they are:
1. Mr. Mohamad bin Abdul Rahman Al-Agil.
2. Mr. Abdullah bin Abdul Rahman Al-Agil.
3. Mr. / Abdul Karim bin Abdul Rahman Al-gil.
4. Mr. Nasser bin Abdul Rahman Al-Agil.
And the Chairman of the Audit Committee, Mr. Abdul Salam bin Abdul Rahman Al-Agil.
Additional Information
The company received an offer from the buyer (the related party) to purchase a piece of land within the company's assets, which was intended for the development of a project that was canceled.
After considers the offer in light of the valuations conducted for the land by three accredited valuers, the company considered that accepting this offer is in the best interest of the company.
The company confirms that the contract did not include any preferential terms.
In addition, none of the members of the Board or Audit committee who has an interest participated in the discussions or the approval of the contract.
And that this contract will be ratified during the next General Assembly meeting.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Disclaimer
Jarir Marketing Co. SJSC published this content on 26 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2021 05:45:11 UTC.
Jarir Marketing Co SJSC is a Saudi Arabia-based joint stock company engaged in the wholesale and retail trade. The Company is active, along with its subsidiaries, in retail and wholesale trading in office and school supplies, childrenâs toys, books, educational aids, office furniture, engineering equipment, computer and computer systems, maintenance of computers, sports and scout equipment and paper. The Company is also involved in the purchase of residential and commercial buildings, and the acquisition of land to construct buildings for sale or lease. The Company operates through 37 showrooms, including wholesale outlets in the Kingdom of Saudi Arabia and the Gulf Cooperation Council (GCC), in addition to real estate investment in the Arab Republic of Egypt. The Companyâs subsidiaries include United Company for Office Supplies and Stationeries WLL, Jarir Trading Company LLC, United Bookshop, Jarir Bookstore and Jarir Egypt Financial Leasing Co SAE.
JARIR MARKETING COMPANY 
