Spanning 811,284 square meters, the affected land plots are situated in Dammam and were purchased from a private entity in 2010, according to a stock exchange statement on Sunday.
Moreover, they have a carrying value on the company’s financial statements of SAR 157.9 million, representing more than 5% of the company’s net assets.
“SSP is currently assessing the effects of the purported cancellation, its legal basis, and the available alternatives to protect its assets,” the statement concluded.
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