GO SIGNS A SETTLEMENT AGREEMENT WITH ONE OF ITS SUPPLIERS TO WRITE OFF SAR 288M OF DEBTS

18/01/2012 Tadawul

Etihad Atheeb Telecom Company (GO) reached and signed a full and final settlement agreement for various mutual disputes with one of its suppliers on 14/12/2011 and finalized the disclosure agreement on 18/1/2012 which has mainly resulted in extinguishments of debts in favor of the company equal to (SR287.8) million.

The related contractual obligations have been fulfilled and close. This settlement will be accounted for in the financials ended 31/12/2011. 

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