Alkhaleej Training and Education Co. announces signing a Memorandum of Understanding with Al Rajhi REIT
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | AlKhaleej Training and Education Company is pleased to announce the signing of a MoU with Al Rajhi REIT for the Sale & Leaseback of 3 of its Educational properties. |
| Signing date of the memorandum | 2019-03-31 Corresponding to 1440-07-24 |
| Signed party | Al Rajhi REIT |
| Memorandum Subject | Signing of MOU between Alkhaleej Training and Education Company and Al Rajhi REIT for Sale and Leaseback of 3 of the AlKhaleej Training and Education Company’s Educational Properties |
| Memorandum Duration | 180 days from the date of signature of MOU |
| Related Parties | There are no related parties |
| Financial Impact | During the financial year 2019 and onwards |
| Additional Information | This potential Sale & Leaseback transaction will help the Company to unleash the cash tied up in the Assets and use the proceeds to support the company’s financial position and expansion plans and to pay down the Company debt. |
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.
