Riyadh – Mubasher: The ordinary general meeting (OGM) of Saudi Telecom Company (stc) has approved the business and contracts with Walaa Cooperative Insurance Co. (Walaa), including a SAR 19.3 million supplementary contract.
The contract aims to provide stc with six-year insurance coverage from 10 December 2021, according to a bourse filing on Wednesday.
The signed supplementary contract was part of the ordinary businesses that have offered no preferential advantages.
The board member in stc and Walaa, Jameel A. Al Mulhem, has an indirect interest in the insurance company.
Source: Mubasher
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