FADECO says contract value signed with Nana Direct linked to sales percentage

Logo of FADECO

Nomu-listed Arabian Food & Dairy Factories Co. (FADECO) announced today, Aug. 16, that the value of the contract signed with Nana Direct Co. cannot be determined as it is related to sales percentage.

In a bourse filing, the company clarified that it is not possible to disclose this percentage for contract terms sensitivity, noting that the financial impact cannot be set at the present time. According to data compiled by Argaam, FADECO signed, on Aug. 15, a one-year agreement with Nana Direct.

The deal aims to expand FADECO’s product distribution network and facilitate the delivery to customers, through the adoption of the principle of electronic shopping, given that it is the preferred option for a wide segment of society.