MBC Group announces the signing of a production services agreement between MBC Studios Projects Saudi Limited (a subsidiary wholly owned by MBC Group) and Ay Yapim Middle East for Media, Visual and Audio Production (a related party) for the production of a television series.

Tadawul-


Element List Explanation
Introduction MBC Group (the "Company") announces the signing of a production services agreement between MBC Studios Projects Saudi Limited, a subsidiary wholly owned by the Company, and Ay Yapim Middle East for Media, Visual and Audio Production, a related party, for the production of a television series (the "Agreement").
Date of Announcement of the Award 2024-10-30 Corresponding to 1446-04-27
Contract Subject Matter Production of a television series.
The Entity with Which the Contract was Signed Ay Yapim Middle East for Media, Visual and Audio Production.
Date of Signing the Contract 2024-10-30 Corresponding to 1446-04-27
Contract Value USD 14,000,000 (equivalent to SAR 52,500,000).
Contract Details The Agreement has been entered into for the production of a television series consisting of 30 episodes, under the working title “Al Asha Street”, with a budget of USD 14,000,000 (equivalent to SAR 52,500,000). The production and delivery of all episodes are expected to be completed in 2025G.
Contract Duration The term commences from the date of signing the Agreement and shall continue until the delivery of all episodes and other deliverables as outlined in the Agreement.
Financial Impact and the Relevant Period The financial impact of the Agreement shall be reflected in the financial results of the Company for the Fiscal Year 2025G.
Related Parties Ay Yapim Middle East for Media, Visual and Audio Production is a related party to the Company considering it is 30% owned by ARA International Production and Advertising Limited Company, which is an entity wholly owned by ARA International Holding Company, itself equally owned 50% by the chairman of the Company and 50% by Istedamah Holding Company (one of the substantial shareholders in the Company).
Additional Information The Company confirms that the contract was concluded in the ordinary course of business of the Company and did not include any preferential benefits.