Al Moammar Information Systems Co. — Capital/Financing Update 2021

Aug 30, 2021

Al Moammar Information Systems (MIS) announces the signing of a Memorandum of Understanding with Al Rajhi Capital, with the aim of launching a special investment fund (compliant with the provisions of Islamic Sharia) in the amount of one billion Saudi Riyals as a first phase, with the aim of financing Technology and digital infrastructure projects and medical equipment.

7200 · 30/08/2021 08:01:37 · Announcement #64752 · View on Saudi Exchange

Al Moammar Information Systems (MIS) announces the signing of a Memorandum of Understanding with Al Rajhi Capital, with the aim of launching a special investment fund (compliant with the provisions of Islamic Sharia) in the amount of one billion Saudi Riyals as a first phase, with the aim of financing Technology and digital infrastructure projects and medical equipment.

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Explanation

Introduction

Al Moammar Information Systems Company is pleased to announce the signing of a memorandum of understanding with Al Rajhi Capital, aiming to launch a special investment fund (compliant with the provisions of Islamic Sharia) in the amount of one billion Saudi riyals as a first phase, in accordance with the Investment Funds Regulations (“IFR”) of the Capital Markets Authority in the Kingdom of Saudi Arabia Saudi Arabia (“CMA”). Where the fund aims to achieve regular income for investors through financing and operational leasing of Technology and Digital infrastructure and medical equipment, primarily in financing Technology and Digital infrastructure projects and medical equipment in the governmental, semi-governmental, and private sectors in the Kingdom of Saudi Arabia.

Noting that Al-Moammar Information Systems (MIS) will be the marketer, supplier, implementer, and exclusive operator of the fund's projects. The fund provides various financing methods that suit customer requirements such as long-term leasing, construction, operation, transfer, payment for use and partnership programs between the public and private sectors, and other financing structures. Memorandum Signing Date 2021-08-29 Corresponding to 1443-01-21 Counterparty Al Rajhi Capital ARC Memorandum Subject Establishing a Sharia-compliant private investment fund that will primarily provide investment in investment capital opportunities in the field of long-term leasing, build-operate-transfer (BOT), pay-for-use, public-private partnership programs, and other financing structures in the digital infrastructure and medical equipment in the governmental, semi-governmental, and private sectors in the Kingdom of Saudi Arabia. Memorandum Duration This memorandum of understanding shall take effect from the date of its signature by both parties and for a period of (120) days. Related Parties There are no related parties. Financial Impact cannot be determined

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