Paper Home’s board recommends acquiring land plots worth SAR 23.2M

15/09/2024 Argaam
Logo ofPaper Home Co.

Logo of Paper Home Co.

Paper Home Co. announced the board of directors’ decision to recommend to the general assembly the purchase of the land plots on which the company’s facilities are located from Chairman Yaqoub Al-Maghrabi for SAR 23.21 million.

 

In a statement to Tadawul, the company said that the land is from Plan No. (1091) of Block No. (37) and their numbers are (546-547-548-549-550-551-552-553-554-555-556-557-558-559-556 -561) and has a total area of 19,348 square meters.

 

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The deal will be financed from the company’s resources and aims at supporting the company’s strategy, the statement added.

 

The financial impact will be reflected in the increase in the company's non-current assets.

 

Any future developments in this regard will be announced in due course, Paper Home noted.

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