Mobile Telecommunications Company Saudi Arabia (Zain Saudi) extended on Thursday its telecommunications services deal with Almarai for an additional year, the telecom operator said in a statement to Tadawul.
The deal was valued at SAR 307,000 in 2016 based on market terms.
Zain Saudi’s chairman, Prince Naif bin Sultan Al Kabeer, is a board director at the dairy and juice producer, the statement noted.
On a separate note, Zain Saudi’s shareholders in their extraordinary general assembly approved the company’s financial results, as well as the board and audited reports for fiscal year 2016.
Aldar audit bureau-Grant Thornton was appointed as an external auditor for fiscal year 2017.
An audit committee was also set up and the board members were discharged from liability for the previous fiscal year.
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