Saudi Fisheries board recommends selling two plots in Riyadh, Qassim

14/02/2018 Argaam

 

Saudi Fisheries Co.’s board of directors on Monday recommended selling two land plots owned by the company in Riyadh and Qassim, the company said in a bourse statement on Wednesday.

 

The plot in Riyadh has an area of 595 square meters (sqm). It has been rented by a tenant for 15 years from Aug. 1, 2011 for SAR 200,000 annually.

 

The Qassim’s plot is 4,980 sqm in area, located in Unaizah.

 

The Riyadh land has a book value of SAR 1.25 million, while that of the Unaizah plot is SAR 160,000, the statement said.

 

Financial impact of selling both assets will be determined after review by the company’s external auditor.

 

The transaction, which does not involve related parties, will be reflected on Saudi Fisheries’ books pending general assembly approval and completion of the sale.

 

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