Transferring SR 623 Million Riyals in the Accounts of the Shareholders within five Days
MCI Real Estate Shareholding Commission continues to pay the due amounts of the shareholders in the shareholding of Salah Al-Nafisi ( Kingdom Dates ), including 75% of the capital and the shareholding of Rubu`a Mecca ( Al-Hammad 3) by the capital and a percentage of the profits up to 85% of shareholders' equity, the payment will be continued gradually for the rest of the shareholders for a period of three weeks for the two mentioned shareholdings.
The above mentioned Commission referred to the mechanism adopted in paying the amounts of the shareholders, this is in accordance with the procedures of the Office of Certified Auditor Al Suwailem and Al Onaizan in charge of auditing the shareholding documents of ( Kingdom Dates ), where the due amount of the shareholder is calculated according to what is found in the legitimate instrument after excluding any gains registered in the instrument or acquired by the shareholder in the past, this is as per the available documents. The above mentioned Commission invited the shareholders who do not have instruments stating their rights to fill out the form available at the branches of the Arab Bank in preparation for the disbursement of their entitlements. The Commission will receive any objections from the shareholders against the paid amounts to be studied after the completion of paying the entitlements of the shareholders.
The Commission invited the shareholders of ( Kingdom Dates ) who do not hold legitimate instruments to proceed to any branch of the Arab National Bank to sign Releasing and Declaration of their rights, and to complete the required procedures and documents to facilitate the process of payment as soon as possible, the balance of the shareholders' profits in the shareholding of Rubu`a Mecca will be paid after completing the mechanism of transferring the ownership of the land and receiving the remaining value.
The said Commission pointed out that the process of paying the shareholders amounts by the Arab National Bank is continued, where the due amounts for more than three thousand shareholders were paid last week after the completion of the requested documents by the Chartered Accountants, through transferring funds directly into the accounts of the shareholders. The total amounts paid until Thursday 26.05.1435 about SR 623 million riyals, representing 23% of the equity of the shareholders in the two shareholdings amounting to more than two billion riyals, where SR 391 million riyals were paid from the shareholding of ( Kingdom Dates ) , and SR 232 million riyals from the shareholding of Rubu`a Mecca , payment will be continued gradually to the shareholders in the coming weeks in the two shareholdings.