Shams says consultancy contract for Palm Beach Resort expired 3 years ago

04/01/2022 Argaam

Logo of Tourism Enterprise Co.

Tourism Enterprises Co. (Shams) announced that the six-month contract worth $20,600 signed with US-based Apogee Attractions LLC, on Feb. 24, 2019, to provide consultancy, studies, designs, and development plans for recreational services at the Palm Beach Resort expired on Aug. 23, 2013, according to a bourse statement.

 

Thus, the contract expired during the term of the previous board that ended on May 27, 2021, without any developments to the contract, as none of the projects have been decided upon.

 

There is no financial impact or financial obligations resulting from the termination of the contract.

 

The current board, whose term began on May 28, 2021, is working on setting strategic plans and objectives for the company’s future directions and restructuring its capital.

 

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