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Osool & Bakheet Investment Company announces the signing of a contract with Advanced Operations Technology to provide IT technical support services. (Related party)
| Element List | Explanation |
|---|---|
| Introduction | Osool & Bakheet Investment Company announces the signing of a contract with Advanced Operations Technology to provide IT technical support services. |
| Date of Announcement of the Award | 2025-10-27 Corresponding to 1447-05-05 |
| Contract Subject Matter | Providing IT Technical Support Services. |
| The Entity with Which the Contract was Signed | Advanced Operations Technology (AOT). |
| Date of Signing the Contract | 2025-10-27 Corresponding to 1447-05-05 |
| Contract Value | SAR 296,700.00 per year |
| Contract Details | A contract has been signed with Advanced Operations Technology (AOT) for providing IT technical support services, with the aim of improving the quality of operational services. The total contract value is SAR 296,700 per year. |
| Contract Duration | 1 year with option to renew |
| Financial Impact and the Relevant Period | SAR 296,700 per year will be reflected as operational expenses in the upcoming financial statements on a pro rata basis. |
| Related Parties | • Osool & Bakheet Investment Company owns 51% of the shares of Advanced Operations Technology (AOT). • Board Member Mr. Khalid Al-Mousa is a shareholder in AOT, owning 4.75%, and his brother Mr. Abdulmohsen Al-Mousa also owns 4.75% of AOT. • Board Member Mr. Abdulrahman Al-Yahya is the Chairman of the Board of Directors of AOT. • Board Member Mr. Beshr Bakheet serves as a Board Member of AOT. |
| Additional Information | Advanced Operations Technology (AOT) was selected from among several submitted offers, and the company confirms that the contract was executed without any preferential terms. |
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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