Service Equipment says deals with Theeb exceeds 1% of total revenues

Logo of Service Equipment Co.

Service Equipment Co. said it's ongoing transactions with Theeb Rent a Car Co., a related party, have exceeded 1% of the company’s total revenue, based on the latest audited annual financial statements.

In a statement to Tadawul, Service Equipment said the transactions involve the supply and installation of vehicle maintenance equipment. These were carried out in the ordinary course of business under standard commercial terms, without any preferential treatment.

The disclosure was made in line with Article 65, paragraph 11, of the Rules on the Offer of Securities and Continuing Obligations, as Amjad Alawneh, a member of Service Equipment’s audit committee, serves as a senior executive at Theeb.