EDARAT Shareholders Approve SAR 77.5M Related-Party Contracts
EDARAT 9557.SA | 0.00 |
Edarat Communication and Information Technology Co. (EDARAT) announced on July 13, 2026 the results of its Ordinary General Assembly Meeting (First Meeting), held remotely on July 12, 2026 at 19:00, with 59.00% shareholder attendance. The assembly approved several related-party transactions concluded during the financial year ending December 31, 2025, including services provided to Al Moammar Information Systems Company (MIS) amounting to SAR 77,551,462, services purchased from MIS amounting to SAR 6,088,868, services provided to Medical Excellence Systems Company amounting to SAR 1,460,456, and services purchased from Edarat Lebanon amounting to SAR 702,000, all involving indirect or direct interests held by Board Chairman Dr. Abdullah bin Ghazi Al-Ghamdi and other board members. The assembly also approved delegating the Board of Directors with the powers of the Ordinary General Assembly for a period of one year from the date of approval or until the end of the Board's term, whichever is earlier.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=96732&anCat=1&cs=9557&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.
