Latest news with #InternationalFinancialReportingStandard
Yahoo
23-04-2025
- Business
- Yahoo
StickIt Technologies Inc. Reports Full Year 2024 Financial Results and Business Highlights
VANCOUVER, BC, April 23, 2025 /CNW/ -- StickIt Technologies Inc. (the" Company "or "StickIt") (CSE: STKT), an Israeli Canadian technology company, announces reports financial results and key business achievements for the year ended December 31, 2024. These results are presented in accordance with the International Financial Reporting Standard (IFRS) as issued by the International Accounting Standards Board. This release should be read in conjunction with the Company's audited consolidated financial statements and associated Management Discussion and Analysis ("MD&A"), available on SEDAR. In addition, the company announced today that Ms. Orit Berger has resigned from its Board of Directors (the "Board") for personal reasons, effective immediately. About StickIt Technologies Inc StickIt is a technology company that invented and manufactures innovative products ("devices") that can contain varying quantities of Catabolites or Vitamins for recreational and medical users. Its operating model is to establish joint ventures/licensees ("partners") in countries around the world that will establish a production facility in which they will add the cannabinoid content to the "sticks" and "straws" produced and supplied by StickIt. The Company's precise dosing options cater to a wide range of effects, including painkilling, energizing, focus, sleep improvement, etc., and can be tailored to meet local preferences and regulations. StickIt Technologies serves customers worldwide. For more information, please contact: StickIt Technologies Inc. Eli Ben Haroosh, CEOE: info@ Sophie Galper, CFOE: sophie@ Website: @StickitTwitter "X": @STICKIT74776509LinkedIn: @Stickit-labs Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release. Forward-Looking Statements This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements. The Company provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company does not undertake to update any forward-looking statements, other than as required by law. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by StickIt Technologies Inc. Readers are cautioned not to place undue reliance on forward-looking statements. Logo - View original content: SOURCE StickIt Technologies Inc. View original content:
Zawya
22-04-2025
- Business
- Zawya
Saudi: Othaim Markets renews $169mln lease deal
Abdullah Al Othaim Markets Company renewed a lease contract worth SAR 633.70 million for the commercial complex in Dammam City on 20 April 2024. The deal has an annual rental value of SAR 39 million in addition to a compounded increase of 4% every three years, according to a bourse filing. The renewal period for the deal will commence after the expiration of the current contract, starting on 9 June 2028. Othaim Markets highlighted that the contract will reflect on its income results with a profit of approximately SAR 300 million. Meanwhile, the revenue and expenses associated with the contract are reported from the contract signing date until the end of the renewed period per the International Financial Reporting Standard (IFRS 16). The Tadawul-listed firm posted 6.58% year-on-year (YoY) higher net profits at SAR 523.09 million in 2024, compared to SAR 490.77 million. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Argaam
21-04-2025
- Business
- Argaam
Al Othaim renews Dammam mall lease for SAR 633.7M, expects SAR 300M profit
Abdullah Al Othaim Markets Co. signed a lease renewal agreement on April 20 with Abdullah Al Othaim Investment Co. for a commercial complex located on land leased from the General Organization for Social Insurance (GOSI) in Dammam. In a statement to Tadawul today, April 21, the company announced that the contract is valued at SAR 633.7 million over a 15-year period. The annual rent amounts to SAR 39 million, excluding value-added tax (VAT), with a compounded 4% increase every three years. The renewal period begins after the current contract expires on June 9, 2028, the statement noted. Al Othaim expected to realize a profit of approximately SAR 300 million over the entire contract term. In addition, revenues and expenses are projected to be recorded from the contract's signing date until the end of the renewed term in accordance with the International Financial Reporting Standard (IFRS 16). The retailer explained that the lease contract for GOSI's land is valued at SAR 331.5 million (not including value-added tax) over the 15-year period. The contract begins on June 9, 2028. In a separate disclosure, the company announced the signing of a lease renewal agreement with Abdullah Al Othaim Investment Co. for a showroom within the commercial complex in Dammam. The contract is valued at SAR 33.16 million for the entire 15-year duration, commencing on June 9, 2028. The annual rent is set at SAR 2.08 million, excluding value-added tax (VAT), with a compounded 4% rise every three years. The contract renewal is projected to lead to continued profit generation and improvement of the leased site, as the financial impact will begin from the signing date until the end of the renewed term, in accordance with IFRS 16. Al Othaim noted that the parties involved in both contracts include Chairman Abdullah Saleh Al-Othaim and Board Member Bandar Sulaiman Al-Buhairi. The company stated that the transaction will be submitted to the general assembly for approval, in accordance with applicable regulations governing related party transactions.
