Al Moammar Information Systems Co. — Capital/Financing Update 2022

Jan 23, 2022

Al Moammar Information Systems Company ( MIS ) announces the signing of a contract (IaaS cloud hosting services) with Edarat Communications and Information Technology Company (Related Party)

7200 · 23/01/2022 09:21:22 · Announcement #66415 · View on Saudi Exchange

Al Moammar Information Systems Company ( MIS ) announces the signing of a contract (IaaS cloud hosting services) with Edarat Communications and Information Technology Company (Related Party)

Element List	Explanation
Introduction	Al Moammar Information Systems Company ( MIS ) announces the approval of the Board of Directors at its meeting (by scroll) on Sunday 20/06/1443 AH corresponding to 23/1/2022 AD to award and sign a contract with Edarat Communications and Information Technology Company (Related Party) to provide cloud hosting services (IaaS) supporting a service known as (SaaS).
Date of Announcement of the Award	2022-01-23 Corresponding to 1443-06-20
Contract Subject Matter	To provide cloud hosting services (IaaS) supporting a service known as (SaaS)
Date of Signing the Contract	2022-01-23 Corresponding to 1443-06-20
Contract Value	27.5 million Saudi riyals (inclusive of value added tax)
Contract Details	Edarat Communications and Information Technology Company (a related party), to provide cloud hosting services (IaaS) that support the service of what is known as (SaaS), Al Moammar Information Systems Company would like to point out that the contract was made within the normal course of business and did not include any preferential benefits, and this contract will be approved during the next general assembly meeting.
Contract Duration	60 months.
Financial Impact and the Relevant Period	starting from the first quarter of 2022 AD and for a period of five years.
Related Parties	Al-Moammar Information Systems Company owns 50% of the capital of Edarat Communications and Information Technology Company
Additional Information	The contract was signed in the normal course of business and did not include any preferential benefits. This contract will be approved at the next General Assembly meeting

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