L'azurde Company for Jewelry announces repayment of long-term credit facility amounting to SAR 75 million, using the proceeds from Rights issue capital increase, as previously announced in the Rights Issue Prospectus. It is worth mentioning that the main purpose of the capital increase by offering the rights issue shares, according to the Prospectus published on CMA website, is to use the proceeds of the offering to finance expansion plans in retail activities, reduce debt and development of e-commerce platforms. For more details, refer to Section No. (6-2) of the Rights Issue prospectus. This payment will contribute to reducing financing costs, which will positively reflect on the company’s financial results from second half of 2021.