Tihama subsidiary inks marketing, event management contract worth up to SAR 16M

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Tihama Advertising and Public Relations Co.’s subsidiary, Tihama First Entertainment Events Co., signed a contract worth up to SAR 16 million with Now Company for Tourism.

In a Tadawul statement, Tihama said the contract, signed on Sept. 24, covers marketing and event management services to be carried out under work orders issued by Now.

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The six-month contract, renewable, will be paid in installments tied to project milestones. Its value factors in direct and indirect costs incurred in execution of the assigmed tasks, the statement added.

Now was awarded project contracts in digital marketing, strategy development, and promotional events, and it seeks Tihama First’s support in the implementation of some related works.

There are no related parties to the deal, the statement noted, stressing that the relevant financial impact cannot be determined at present as the final agreement value remains uncertain.

Material updates will be duly announced, it further stated.