Atlas Elevators EGM to vote on using SAR 18M as deposit/Murabaha on Jan. 21

26/12/2023 Argaam

Atlas Elevators EGM to vote on using SAR 18M as deposit/Murabaha on Jan. 21

Logo of Atlas Elevators General Trading and Contracting Co.

Shareholders of Atlas Elevators General Trading and Contracting Co. will vote on delaying the use of SAR 17.96 million from the offering for the expansion plan, during an extraordinary general meeting (EGM) to be held on Jan. 21, 2024, the company said in a statement to Tadawul.

 

Funds will be deposited annually or used as monthly/quarterly Murabaha, per the board's decision, in a Saudi bank account at the current return rates. This is in order to finance the company's expansion.

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