KNOWLEDGE ECONOMIC CITY COMPANY 1443/03/18 Sun Oct 24, 2021 15:31:49
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| Element List | Explanation |
| Introduction | Reference to the Knowledge Economic City Company "The Company" announcement on Tadawul on 22 April 2021 regarding the signing of an agreement with the Saudi Tourism Development Fund and Riyad Bank on 22 April 2021 to provide financing facility for the company towards the development execution cost of the Knowledge Economic City Hub project which aims to develop the lands overlooking King Abdulaziz Road in the northern area through creating a mixed-use urban project with components mentioned in the announcement, and that the subject financing of SAR782 will cover 79% of the project development cost (excluding land value), |
| Date of Posting the Previous Announcement of Development on Tadawul's Website | 2021-04-22 Corresponding to 1442-09-10 |
| URL of the Previous Announcement | Click Here |
| Change on the Development | As it has been mentioned in the announcement that the period allowed to finish related financing documentation will be a 6-month period, the company would like to announce that facility documentation is at final stage as all parties involved in this agreement (KEC, TDF & Riyad Bank) are in the process of finalizing agreements for the execution of this facility and expect it to be completed before the end of December 2021. |
| Financial Impact on the change | No financial impact currently. |
| Additional Information | It is worth mentioning that the construction of this project has already started on site and therefore, this additional time on the execution of this facility as forecasted at the time of signing this facility will not impact the project construction progress and the initial expected time of completion. |
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.
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Knowledge Economic City Co. SJSC published this content on 24 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2021 17:23:03 UTC.
