Jarir Marketing Co. Announces Contract Sign Off with Rubeen Al Arabia Company

ELEMENT LIST EXPLANATION
Introduction Jarir Marketing Co. Announces Contract Sign Off with Rubeen Al Arabia Company(Related Party)
Date of Announcement of the Award 2019-12-10 Corresponding to 1441-04-13
Contract Subject Matter A contract to provide management, operation and maintenance services (not including rental-related services) for the Rubeen Plaza commercial complex
Date of Signing the Contract 2019-12-10 Corresponding to 1441-04-13
Contract Value 500,000 riyals annually in addition to the actual costs of the staff
Contract Details Jarir Marketing Company has signed a contract to provide management, operation and maintenance services (not including rental-related services) for the Rubeen Plaza commercial complex owned by Rubeen Al Arabia Company, located on the Northern Ring Road between the Takhasusi exit and Prince Turki
Contract Duration One calendar year, renewable
Financial Impact and the Relevant Period The financial impact of the contract will appear during the fourth quarter of 2019
Related Parties Rubeen Al Arabia Company is owned (50%) by the Jarir Commercial Development Company, indirectly owned by some members of the board of directors of Jarir Marketing Company who are Mr. Muhammad bin Abdul Rahman Al-Agil, Engineer / Nasser bin Abdul Rahman Al-Agil, and Professor / Abdullah bin Abdul Rahman Al-Agil, and Professor / Abdul Karim bin Abdul Rahman Al-Agil.

The company confirms that the contract was made within the context of normal business and did not include any preferential benefits.
Additional Information And that this contract will be ratified during the next General Assembly meeting.