Osool & Bakheet inks IT technical support contract at SAR 296,700

08:45 AM (Mecca time) Argaam- Nomu
Osool Bakheet signed contract with Advanced Operations Technology Co.

Osool & Bakheet signed contract with Advanced Operations Technology Co.

Osool & Bakheet Investment Co. signed on Oct. 27 an agreement with Advanced Operations Technology Co. to obtain technical support services for information technology, aimed at enhancing the quality of operational services. The annual value of the contract amounts to SAR 296,700, according to a statement to Tadawul.

 

The contract duration is one year, renewable, and its value will be recorded as operating expenses in the upcoming financial statements on a pro-rata basis.

 

Osool & Bakheet holds a 51% stake in Advanced Operations Technology, and noted the related parties as follows:

 

Khalid Abdulrahman Al Mousa, a board member, is a shareholder in Advanced Operations Technology, owning 4.75% of capital. His brother, Abdulmohsen Abdulrahman Al Mousa, also owns 4.75% of the company.

 

Abdulrahman Yahya Al Yahya, a board member, is the Chairman of Advanced Operations Technology.

 

Bishr Burhan Bakheet is also a board member at Advanced Operations Technology.

 

The agreement was concluded without any preferential terms, the statement added.

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