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Arabian Internet and Telecommunication Services Company (SOLUTIONS) announces the signing of a bank facilities agreement (complaint with Islamic Sharia).

Element ListExplanation
Date of obtaining the funding 2022-06-27 Corresponding to 1443-11-28
Financing entity Saudi National Bank
Financing amount. The total value of the banking facilities is SAR 1 billion (compliant with Islamic Sharia) consists of:

- Renewal of multi-purpose short term banking facilities agreement of (SAR 500 million).

- Adding a medium term financing limit of (SAR 500 million).

Financing duration. - Short term banking facilities limit for a period of one year.

- Medium term financing limit for a period of 5 years.

Guarantees offered for the financing Promissory note
Financing objective The objective behind the facilities obtained:

- Short term limit (Multi-Purpose):

Utilized for LC/LG and available as a working capital financing.

- Medium term: to finance the acquisition of Giza Systems Company which was already announced on the Saudi Exchange (Tadawul) website.

Related Parties N/A

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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Last Price Net Change
246.6 16.2 (+7.03%)
Value Traded (SAR) Volume Traded
518,965,982.6 2,120,559

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