Altayyar Travel Group Holding Co. declares that Altayyar Tourism & Real Estate Investment & Development Co. fully owned by the Group, entered on 19/01/2015 as a founding partner in the Saudi Heritage Hospitality Co. with 5,000,000 shares of value amounting to SR 50 million.
The said amount represents 20% of the Company s capital.
The subscription procedures are being carried out and the purchase transaction will be funded by the company s own resources.
The financial effect of the subscription will start after completing the incorporation of the company as per the implementary programs and projects to be specified by its board of directors and its general assembly.
The Saudi Heritage Hospitality Co. has been launched by the Saudi Commission for Tourism and Antiquities with a capital of SR 250,000,000 for the purpose of developing and investing in the state-owned traditional buildings in lodging and traditional hospitality.
The head office of the company will be in the city of Riyadh.
The Capital Market Authority and Saudi 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.