Al Othaim Subsidiary Buys Agricultural Lands in al Qassim

Abdullah Al Othaim Markets Company announces that;today 15/12/2013 Thamarat Al Qassim Company, (a subsidiary - owned indirectly by 90%), bought agricultural lands with total area of (1,691,993 m2) located at Al Qassim Province from a related party at SR 6.5 per square meter with a total value of (10,997,955) , The sale price of the lands was executed at a lower than market price according to the valuations conducted by three real estate evaluators. The purpose of the purchase of the lands is to be used in the company agricultural activities, that are carried out by its subsidiary which is specialized in the agricultural and livestock trading activities,. The transaction was self-funded by the Company. And, whereas this transaction was engaged with a related party (the Chairman of the Board Mr. Abdullah Saleh Al Othaim), therefore, the company announces that the transaction will be presented to the nearest General Assembly Meeting for ratification in accordance with rules and regulations