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Elm Company Announces that one of its subsidiaries (Tabadul) signed a Revenue-Sharing Agreement with Zakat, Tax and Customs Authority.
7203
ELM
0.35
%
1444/07/17 08/02/2023 09:44:18
| Element List | Explanation |
|---|---|
| Introduction | Elm Company announces that one of its wholly owned subsidiaries Saudi Company for Exchanging Digital Information (Tabadul) has signed a Revenue-Sharing Agreement with Zakat, Tax and Customs Authority. |
| Date of Announcement of the Award | 2023-02-08 Corresponding to 1444-07-17 |
| Contract Subject Matter | Providing customs electronic services and operational services. |
| Date of Signing the Contract | 2023-02-08 Corresponding to 1444-07-17 |
| Contract Value | Agreement value exceeds 5% of total revenue as per latest audited annual financial statements for the year 2021. The Agreement does not specify a total fixed value. The value of the Agreement is determined by the number of the executed transactions and Tabadul receives a percentage of the fees of such transactions. |
| Contract Details | Providing customs electronic services and operational services. |
| Contract Duration | Five Years starting from the issuance of the effectiveness date certificate |
| Financial Impact and the Relevant Period | The financial impact of this Agreement will be reflected in the subsidiary's results during the years of the Agreement and in accordance with the volume of transactions because that Tabadul receives a percentage of the fees of such transactions. |
| Related Parties | Not Applicable |
| Additional Information | Not Applicable |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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