Almujtama Alraida Medical Co. Announces the approval of the Board of Directors to contract with the Bright Screens Company (a related party) in the amount of 1,767,780 Saudi riyals
| Element List | Explanation |
|---|---|
| Introduction | Almujtama Alraida Medical Co. announces the approval of the Board of Directors based on the license granted to the Board of Directors by the General Assembly held on June 18, 2023, granting it the powers of the General Assembly in accordance with the first and second paragraphs of Article Twenty-Seven of the Companies Law for a period of one year from the date of the Association to contract with the Bright Screens Company. Commercial Registry No. 4030496645 - one-person company - wholly owned by Mr. Muhammad Omar Yousef Khojah (related party), to supply and install display screens for the company’s branches for a total amount of 1,767,780 Saudi riyals, including VAT.
As it is considered one of the best offers presented to the company, the issue will be presented to the next general assembly. |
| Transaction Details | Supply and installation of advertising screens |
| Transaction Value | 1,767,780 Saudi riyals, including VAT |
| Transaction Terms | Supply and installation of screens for 80 branches with a two-year warranty |
| Parties of the Transaction | Bright Screens Company
Leading Community Medical Company |
| Transaction Funding Method | Powered by Almujtama Alraida Medical Co. |
| Transaction Execution Date | 2024-01-24 Corresponding to 1445-07-12 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction | Promotional screens |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Do not apply |
| Transaction reasons | Supply and installation of display screens for the company’s branches |
| Expected Impact of the Transaction on the Company and Its Operations | It is expected to have a positive impact on the sales and marketing of the company's products |
| Related Parties | 1- Mr. Omar Yousef Khojah, Chairman of the Board of Directors
2- Mr. Youssef Omar Khojah, Vice Chairman of the Board of Directors 3- Pharmacist/ Abdul Aziz Omar Khojah, Member of the Board of Directors and Managing Director |
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