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Al Moammar Information Systems (MIS) announces the signing of a memorandum of understanding (non-binding) with the Mobile Telecommunications Saudi Company (Zain KSA )
| Element List | Explanation |
|---|---|
| Introduction | Al Moammar Information Systems (MIS) announces that within the framework of its expansion and development strategy, it has signed a non-binding memorandum of understanding with the Mobile Telecommunications Saudi Company (Zain KSA ) With the aim of providing a general framework for facilitating cooperation between the two parties in the Kingdom of Saudi Arabia and in particular, strengthening and sustaining cooperation between the two parties in establishing a strategic partnership based on the principles of reciprocity and complementarity - in their areas of expertise related to providing comprehensive solutions for information and communications technology (a) exploring potential cooperation opportunities between them ; (b) to agree to design, launch and provide certain products, services and/or solutions; and (c) make joint offers to customers of Zain Saudi Arabia, including existing and potential customers of large and medium enterprises and government customers in the Territory, in respect of such products, services and/or solutions. |
| Memorandum Signing Date | 2023-02-07 Corresponding to 1444-07-16 |
| Counterparty | The Mobile Telecommunications Saudi Company (Zain KSA ) |
| Memorandum Subject | The purpose of this Memorandum of Understanding is for the parties: (a) explore potential cooperation opportunities between them. (b) to agree to design, launch and provide certain products, services, and/or solutions; And (c) make joint offers to customers of Zain Saudi Arabia, including existing and potential customers of large and medium enterprises and government customers in the Territory, in relation to such products, services and/or solutions |
| Memorandum Duration | 12 Gregorian months from the date of signing, and renewable based on the agreement of the two parties |
| Related Parties | There are no related parties |
| Financial Impact | The financial impact of this memorandum cannot be determined, knowing that the company will announce developments in this regard at a later time |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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