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Service Equipment Company announces the signing of a lease agreement with Omar A. Balubaid Company Ltd. (a related party)
| Element List | Explanation |
|---|---|
| Introduction | Service Equipment Company Announces the Signing of a Lease Agreement with Omar A. Balubaid Company Ltd. (Related Party – Major Shareholders in the Company) Under this contract, Service Equipment Company will lease a warehouse with an area of 2,500 square meters for a period of three years commencing on 15 March 2026, at a total rental value of SAR 862,500 inclusive of VAT. |
| Date of Announcement of the Award | 2026-03-03 Corresponding to 1447-09-14 |
| Contract Subject Matter | Service Equipment Company is leasing a warehouse from Omar A. Balubaid Company Ltd. |
| The Entity with Which the Contract was Signed | Omar A. Balubaid Company Ltd. |
| Date of Signing the Contract | 2026-03-03 Corresponding to 1447-09-14 |
| Contract Value | SAR 862,500 inclusive of VAT |
| Contract Details | Leasing a warehouse with an area of 2,500 square meters for a period of three (3) years, commencing on 15 March 2026, with a total lease value of SAR 862,500 inclusive of VAT. |
| Contract Duration | Three-years term starting from 15 March 2026. |
| Financial Impact and the Relevant Period | The financial impact of the lease agreement is expected to be reflected in the Company’s lease liabilities, and this will be recognized in the financial statements for the first half of 2026. |
| Related Parties | Major Shareholders – Omar A. Balubaid Company Ltd. |
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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