| Element List |
Explanation |
| Introduction |
With reference to the Company’s announcement in Saudi Exchange (Tadawul) website on 04/12/2023 regarding the conclusion of the negotiation procedures with the Ministry of Human Resource and Social Development related to the Social Case Surveying Project (second phase), the Company announces the project’s contract sign off. |
| Date of Announcement of the Award |
2023-12-04 Corresponding to 1445-05-20 |
| Contract Subject Matter |
Social Case Surveying Project (Second Phase) |
| The Entity with Which the Contract was Signed |
Ministry of Human Resource and Social Development |
| Date of Signing the Contract |
2024-01-17 Corresponding to 1445-07-05 |
| Contract Value |
The total expected value of the contract is approximately 25% of the company’s total revenue as per the audited annual financial statements for the year 2022. It is worth noting that the value of the contract is based on the number of cases being surveyed and the contract does not include a fixed total amount. |
| Contract Details |
Privatizing social surveying works and home visits for applicants benefiting from the Social Security Program or its beneficiaries. This is intended to contribute to improving the quality of services provided and enhancing the experience of beneficiaries. The second phase of the Social Cases Surveying Project covers eleven regions in the Kingdom of Saudi Arabia (All regions of the kingdom except for Riyadh and Hail). |
| Contract Duration |
5 years starting from the execution date |
| Financial Impact and the Relevant Period |
The financial impact of this contract will be reflected in the company’s results during the duration of the contract, and the value will depend on the number of social cases surveyed. |
| Related Parties |
N/A |
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