| Item | Explanation |
|---|---|
| Introduction | Banan Real Estate Company is pleased to announce the signing of an amended addendum to the Memorandum of Understanding on Tuesday, 08/04/2025. The MoU includes developing ten (10) sports clubs instead of six (6), through the establishment of a real estate fund, or through its subsidiaries, or through various financing sources. |
| Previously Announced Event | Signing a Memorandum of Understanding with Armah Sports Development Company to develop six (6) sports clubs over five years through establishing a real estate fund. |
| Date of the Previous Announcement on the Saudi Exchange Website | 1446-01-29 corresponding to 2024-08-04 |
| Link to the Previous Announcement on the Saudi Exchange Website | Click here |
| Latest Developments on the Announced Event | Signing an amended addendum to the Memorandum of Understanding on Tuesday, 08/04/2025, to include the development of ten (10) sports clubs instead of six (6), through the establishment of a real estate fund, or through its subsidiaries, or through various financing sources. |
| Reasons for the Delay from the Previously Announced Date | Not applicable |
| Costs Associated with the Event and Whether They Have Changed (with Reasons) | Not applicable |
| Impact of the Delay on the Company’s Financial Statements | Not applicable |
