Mobile Telecommunication Company Saudi Arabia "Zain KSA" announces the amendment of the Management Agreement with Mobile Telecommunication Company K.S.C.P. “Zain Group”.
| Element List | Explanation |
|---|---|
| Announcement Detail | Due to operational and financial performance improvements, "Zain KSA" announces reaching an agreement with “Zain Group” to amend the Management Agreement to become a Brand Support Agreement with new terms that serve the long-term strategic goals of both parties, and will reflect on a positive financial results for Zain KSA. The period of the agreement remains ending on 31/12/2032.
The Board of Directors of "Zain KSA" appreciates Zain Group for its continuous support as a strategic shareholder of Zain KSA.
As part of Zain KSA’ transparency, Zain KSA would like to clarify that the decision by the Board of Directors was unanimous, after excluding the related parties. |
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