Arabian Internet and Communications Services Company (solutions) announces the signing of a contract with Saudi Telecom Company (stc) (Related Party)

Arabian Internet and Communications Services Company (solutions) announces the signing of a contract with Saudi Telecom Company (stc) (Related Party)

Element List

Explanation

Introduction

Arabian Internet and Communications Services Company (solutions) announces the signing of a contract with Saudi Telecom Company (stc) (Related Party) to renew the contract of bulk-SMS service and linking it to the Short Message Service Center (SMSC) of stc, and offering bulk-SMS services to solutions customers.

Date of Announcement of the Award

2024-01-25 Corresponding to 1445-07-13

Contract Subject Matter

Bulk SMS service (normal and gold) through the Short Message Service Center (SMSC).

The Entity with Which the Contract was Signed

Saudi Telecom Company (stc)

Date of Signing the Contract

2024-01-25 Corresponding to 1445-07-13

Contract Value

SAR 120,000,000

Contract Details

•Providing bulk-SMS service offered by stc. •Connecting solutions devices to the Short Message Service Center (SMSC) of stc.

Contract Duration

(24) Months

Financial Impact and the Relevant Period

The financial impact on the company's financial statements will appear starting from the 1st quarter of the year 2024.

Related Parties

stc which considered the largest shareholder with an ownership of 79% of solutions shares.

Arabian Internet and Communications Services Company (solutions)