SULAIMAN ALHABIB

18 July, 2024 15:56

Dr. Sulaiman Al Habib Medical Services Group Announces an update on the Group’s Announcement of signing off a lease contract with Madinah Al-Munawwarah Municipality in relation to a land investment in Al-Madinah Al-Munawwarah

Element ListExplanation
Introduction In reference to the announcement of Dr. Sulaiman Al Habib Medical Services Group Company (the “Group”) published on Tadawul website on 20/04/1443 corresponding to 25/11/2021 regarding signing off a lease contract with Al-Madinah Al-Munawwarah Municipality (the “Municipality”), under which, the Municipality leased to the Group the plot of land located on King Abdullah bin Abdulaziz Road after the second notary, in Muthainib neighborhood in Mitan region in Al-Madinah Al-Munawwara city, with a total area of (18,772.24) square meters for a period of (50) fifty years in order to invest it by constructing, operating and maintaining a hospital on the allocated land (the “Lease Contract”). The Group announces that on Thursday, 12/01/1446 corresponding to 18/07/2024, a mutual termination agreement has been signed between its subsidiary, Bawabat Al-Gharb for Healthcare Company (a wholly-owned subsidiary) and the Municipality to terminate the Lease Contract. This termination comes without any financial or contractual liability on either party towards the other.
Previous Announcement Dr. Sulaiman Al Habib Medical Services Group announces signing off a lease contract with Madinah Al-Munawwarah Municipality in relation to a land investment in Al-Madinah Al-Munawwarah
Date of Previous Announcement on Saudi Exchange’s Website 2021-11-25 Corresponding to 1443-04-20
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event The Group announces that on Thursday, 12/01/1446 corresponding to 18/07/2024, a mutual termination agreement has been signed between its subsidiary, Bawabat Al-Gharb for Healthcare Company (a wholly-owned subsidiary) and the Municipality to terminate the Lease Contract. This termination comes without any financial or contractual liability on either party towards the other.
Reasons For The Delay on The Date of The Event Previously Announced Not Applicable
The costs associated with the event, and if they have changed or not with indication of the reasons. There are no material costs associated with the event.
Delay consequences on the Company’s financial results Not Applicable

Other Announcements

QUARA
2024-09-01

Quara Finance Co. announces its inability to post interim financial results for the period ended on 2024-06-30(Six Months)

Read More
MEYAR
2024-09-01

Meyar Co. Announces the Purchasing of Trucks (Concrete Mixers) in the amount of 1,523,750 Saudi Riyals, including VAT

Read More
BALADY
2024-09-01

An additional announcement from Balady poultry company regarding the latest developments related to the signing of an agreement between almajem food and major shareholders of Baladi poultry company to purchase shares

Read More