Project Worth 69.9 Million Riyals Awarded to Elm

Elm has received a letter from the Saudi Arabian Ministry of Home Affairs awarding a project worth approximately 69.9 million riyals, including value added tax.

The company said in a statement to Tadawul Saudi Arabia today, Tuesday, that the project is an implementation of the Mecca Road initiative.

She referred to the parties involved in the contract, namely the chairman of the board of directors, Raed bin Abdullah bin Ahmed, and the member of the board of directors, Abdullah bin Abdul Rahman al-Rabia, and they have an indirect interest.

The company stated that the award letter does not entail any legal or financial obligations other than once the contract is signed by all parties, and the company will communicate any future developments in this regard at that time.

Possible Acquisition of Thiqa Business Services

Elm announced yesterday, Monday, that it has entered into preliminary discussions with Thiqa Business Services regarding a possible acquisition of all shares held by the State Investment Fund in Thiqa Business Services, noting that these discussions do not necessarily mean that the proposed transaction will take place. between two parties.

If the proposed transaction is agreed to, this will be subject to certain conditions, including the approval of the relevant authorities, as well as the approval of an extraordinary general meeting of Elm, if necessary, in accordance with the company\’s articles of association. statement.