|Alkathiri Holding Co. announces amended and renewal of bank facility agreement (Shariah-compliant) with Riyad Bank and Increase the value of facilities from SAR 3,000,000 to SAR 4,000,000 as follows:
|Date of receiving Credit Facility
|2019-06-27 Corresponding to 1440-10-24
|Credit Facility value
|SAR4,000,000 million after the addition of SAR 1,000,000 to the facilities Value.
|Credit Facility duration
|The facility period extends to 12-06-2021 and can be extended for further periods.
|Guarantees provided for credit facility
|The facility is secured by a promissory note (equivalent to facility value) in favor of the bank.
|Reason for Credit Facility
|The purpose of this facility is to finance the company’s working capital and to meet other business requirements.
|No related parties on this agreement.
|The total amount of facilities granted by Riyad Bank to the Company is SR 10,521,000