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Elm Company Announces an Agreement Sign-Off with the Ministry of Interior and the Saudi Data & AI Authority (SDAIA).
7203
ELM
0.37
%
1446/01/04 10/07/2024 08:03:30
| Element List | Explanation |
|---|---|
| Date of Announcement of the Award | 2024-07-09 Corresponding to 1446-01-03 |
| Contract Subject Matter | Elm Company Announces a data resources development Agreement Sign-Off with the Ministry of Interior and the Saudi Data & AI Authority (SDAIA). The agreement aims to enable the company to develop and provide products and services in accordance with its terms and conditions. |
| The Entity with Which the Contract was Signed | Ministry of Interior and Saudi Data & AI Authority (SDAIA) |
| Date of Signing the Contract | 2024-07-09 Corresponding to 1446-01-03 |
| Contract Value | The Agreement does not include a fixed amount. The revenue from the products and services that falls within the Agreement for the year 2023 constituted approximately 42% of the Company’s total revenue as per the audited financial statements for the same year. |
| Contract Details | This Agreement replaces previous agreements and the parties receives a percentage from the revenue of the products and services that falls within the Agreement. The agreement aims to enable the Company to develop and provide products and services in accordance with the terms and conditions of the agreement. |
| Contract Duration | 10 years starting from 01-01-2024 |
| Financial Impact and the Relevant Period | This agreement may have a positive impact on the Company’s revenue during the duration of the agreement as it may lead to expanding the products and services provided. |
| Related Parties | NA |
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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