Quara Finance Co. Announces Obtaining Sharia-complaint Credit Facilities from SHL Finance Co. (Related Party)
| Element List | Explanation |
|---|---|
| Introduction | Quara Finance Co. announces obtaining Sharia-complaint Credit Facilities from SHL Finance Co. (Related Party) |
| Date of obtaining the funding | 2025-06-17 Corresponding to 1446-12-21 |
| Financing entity | SHL Finance Company |
| Financing amount. | (100,000,000) Saudi Riyals. |
| Financing duration. | 3 Years |
| Guarantees offered for the financing | A Promissory Note for the full amount of the Facilities
Assignment of receivables to cover 120% of the outstanding balance of the Facilities |
| Financing objective | The purpose of this facility is to expand and increase the sales volume in line with the company's strategy and future vision. |
| Related Parties | Common Shareholder - Mr. Yousef Abdullah Al-Shilash is a shareholder of SHL Finance Company and an indirect shareholder of Quara Finance Company through Al Mawared Al Oula. |
| Additional Information | The Company confirms that the facility agreement is a continuous transaction that is carried out in the normal course of business and is in accordance with prevailing commercial conditions and without any preferential terms. |
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