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

Jun 7, 2021

Al Moammar Information Systems (MS) announces the signing of a binding memorandum of understanding (the "Memorandum") with “Al Fransi Capital (“SFC”) to develop and manage operations, facilities and leasing agency services for data centers that will be developed and owned by a special Islamic-compliant private investment fund which invest in the establishment and construction of data centers

7200 · 07/06/2021 15:36:09 · Announcement #63682 · View on Saudi Exchange

Al Moammar Information Systems (MS) announces the signing of a binding memorandum of understanding (the "Memorandum") with “Al Fransi Capital (“SFC”) to develop and manage operations, facilities and leasing agency services for data centers that will be developed and owned by a special Islamic-compliant private investment fund which invest in the establishment and construction of data centers

Element List	Explanation
Introduction	Al Moammar Information Systems (MIS) is hereby pleased to announce the signing of a binding Memorandum of Understanding (MOU) with Saudi Fransi Capital to establish a private investment fund that will have the objective of developing, owning, and operating data centers across the Kingdom of Saudi Arabia.

MIS and SFC expect this fund to have an initial size of around SAR 700 million, however, the long-term vision and strategy are to grow this venture to be to a potential size of up to SAR 3.5 billion.

According to this MoU, Al-Moammar Information Systems Company is the main developer of all the data centers affiliated with the Fund and is responsible for developing, operating, managing, and marketing these centers exclusively, and accordingly, it will receive an annual percentage of the revenues and returns of these centers in return, bearing in mind that the percentage of The company's ownership in the units of the fund will be 10% minimum

Some of the key provisions of this " MoU " are as follows: -

(a) SFC intends to establish and manage a special fund (the “Fund”) with the primary investment objective of owning, developing, and operating data centers throughout the Kingdom of Saudi Arabia.

(b) The Fund will be established in the Kingdom of Saudi Arabia under the Investment Funds Regulations (“IFR”) and the Capital Market Authority (“CMA”).

(c) SFC intends to appoint MIS as lead developer for all data centers that the Fund intends to own and operate.

(d) SFC intends to appoint MIS as the operations and facilities manager and leasing agent for all of the fund's data centers on a long-term basis. Memorandum Signing Date 2021-06-07 Corresponding to 1442-10-26 Counterparty Saudi Fransi Capital SFC Memorandum Subject the signing of a binding memorandum of understanding (the "Memorandum") with “Al Fransi Capital (“SFC”) to develop and manage operations, facilities, and leasing agency services for data centers that will be developed and owned by a special Islamic-compliant private investment fund which invest in the establishment and construction of data centers Memorandum Duration Duration of the Memorandum This Memorandum shall start working from the date of its signature by both parties and for a period of (180) working days Related Parties There are no related parties. Financial Impact It cannot be determined

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