Saudi Industrial Development Co. — Capital/Financing Update 2022

Jul 3, 2022

Saudi Industrial Development Company (SIDC) announces Sleep High (a subsidiary company) signing of a contract with Emmdad Logistic Services one of its subsidiary companies.

2130 · 03/07/2022 08:08:10 · Announcement #69140 · View on Saudi Exchange

Saudi Industrial Development Company (SIDC) announces Sleep High (a subsidiary company) signing of a contract with Emmdad Logistic Services one of its subsidiary companies.

Element List	Explanation
Introduction	Saudi Industrial Development Company (SIDC) announces that “Sleep High” (a subsidiary Company) signed a contract with Emmdad Logistic Services one of the subsidiary companies (Related Party).
Date of Announcement of the Award	2022-06-16 Corresponding to 1443-11-17
Contract Subject Matter	Contract for the transfer, handling, and storage of "Sleep High" products according to the number of trips executed and the quantity of products and leased storage spaces.
Date of Signing the Contract	2022-06-30 Corresponding to 1443-12-01
Contract Value	12,655,000 Riyals ( Expected - Annually )
Contract Details	Global Company for Marketing Sleeping System Ltd. - Sleep High (a subsidiary Company) signed with one subsidiary company (Emmdad Logistic Services – related party) a contract for transfer, handling, and storage of “Sleep Hight” products according to the number of trips executed and the quantity of products and leased storage spaces.
Contract Duration	Three Calendar Years with effect from 01/07/2022AD until 30/06/2025AD.
Financial Impact and the Relevant Period	Financial impact will be reflected in the financial results starting from the 3rd Quarter of the year 2022AD in accordance with the volume of operational transactions between the contracting companies.
Related Parties	Emmdad Logistic Services is 50% indirectly owned by some members of the board of directors, namely:

1. Mr. Ahmed Bin Abdullah Alkanhal.

2. Mr. Ibrahim Bin Abdullah AlHomaidhi. Additional Information • Value of contract is an expected amount according to the number of trips executed and the quantity of products and leased storage spaces.

• Contracting has been concluded based on the licensing of the Ordinary General Assembly Number Thirty-Five in its meeting held on Thursday 17/11/1443H. corresponding to 16/06/2022AD.

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