Tharwah signs MoU with Shmayl to broaden technical, development cooperation

Tharwah signs one-year MoU with Shmayl to advance cooperation in technology, consulting, and community programs

Nomu-listed Altharwah Albashariyyah Co. (Tharwah) signed on Nov. 17 a memorandum of understanding (MoU) with Shmayl TD, to enhance cooperation in fields of technological development, technical consulting, community behavior programs, and organizing workshops to support partnerships, exchange expertise, and explore business opportunities of mutual interest, according to a statement to Tadawul.

The one-year MoU is extendable by mutual agreement, and does not currently entail any financial commitments on either party. No potential financial impact can be determined at this time, said the company, adding that any financial impact or material developments will be announced if related agreements or contracts are concluded in the future.

There are no related parties involved, and the MoU serves as a framework to organize cooperation between the two companies and does not constitute a final contractual commitment, with relevant contracts or agreements to be executed, when needed, in accordance with applicable regulations and instructions.