Elm Company Announces the Signing of a Contract to Develop and Operate the Product Safety System for Products Regulated by the Saudi Standards, Metrology and Quality Organization (SASO)
| Element List | Explanation |
|---|---|
| Introduction | With reference to Elm Company’s announcement published on the Saudi Exchange website on 08-02-1448H, corresponding to 22-07-2026G, regarding the award of the contract for the development and operation of the Product Safety Platform for products regulated by the Saudi Standards, Metrology and Quality Organization (SASO), Elm Company announces the signing of the contract with SASO. |
| Date of Announcement of the Award | 2026-07-22 Corresponding to 1448-02-08 |
| Contract Subject Matter | Developing and operating the product safety system for regulated products of the Saudi Standards, Metrology and Quality Organization (SASO). |
| The Entity with Which the Contract was Signed | Saudi Standards, Metrology and Quality Organization (SASO) |
| Date of Signing the Contract | 2026-09-22 Corresponding to 1448-04-11 |
| Contract Value | The company's expected revenue during the term of the contract is approximately 15% of the company's total revenues, according to the audited annual financial statements for the fiscal year 2025. It is worth noting that the contract is a revenue-sharing contract, and its value is linked to the number of transactions executed, and the contract does not include a fixed total amount. |
| Contract Details | Developing and operating the product safety system for regulated products of the Saudi Standards, Metrology and Quality Organization (SASO), which includes the development of an integrated digital platform that forms the technical infrastructure of the system, along with the execution of other operational tasks. |
| Contract Duration | The project duration is five years, commencing from the date of the Project Commencement Minutes. |
| Financial Impact and the Relevant Period | The contract is expected to positively contribute to the Company’s revenues over its term, with potential opportunities to expand related services. |
| Related Parties | NA |
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