Equipment House Approves Related-Party Contract

Scientific & Medical Equipment House Co. said on Tuesday that shareholders approved a related-party lease contract with Rawabi International Marketing Co.

Several board members, including Mr. Basel bin Saud Al Arifi and Mr. Bandar bin Saud Al Arifi, were identified as having indirect interests.

The contract covers leasing the Equipment House building in Riyadh’s Sulaymaniyah district, including maintenance and operation services, for SAR 864,000 in FY2024. No preferential terms apply.