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 VMware licenses and providing support services.

Date of Announcement of the Award

2024-04-15 Corresponding to 1445-10-06

Contract Subject Matter

Renew the VMware licenses contract and providing support services.

The Entity with Which the Contract was Signed

Saudi Telecom Company (stc)

Date of Signing the Contract

2024-04-15 Corresponding to 1445-10-06

Contract Value

SAR 139,950,000

Contract Details

• Renewal of VMware licenses. • Providing maintenance and technical support services.

Contract Duration

3 years

Financial Impact and the Relevant Period

The financial impact on the company's financial statements will appear starting from the 2nd quarter of the year 2024.

Related Parties

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

Additional Information

N/A

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