Advance International Company for Communication and Information Technology Announces the establishment of a single-person limited liability company (subsidiary) under the name “Rona Technology Company” to launch a new sector specialized in technology services, cybersecurity, and software development.

Advance International for Telecommunications and Information Technology is pleased to announce the completion of the procedures to establish a new sector specialized in technology services, cybersecurity, and software development, through the incorporation of a single-person limited liability company under the name Rona Technology Company, with a capital of SAR 100,000 (one hundred thousand Saudi riyals), fully owned (100%) by Advance International.

The new subsidiary will be responsible for all operations related to technology services, cybersecurity, and programming. This step comes as part of the company’s strategy to restructure its operational sectors in a way that enhances focus on core business activities.

There is no material financial impact from this event on the company’s financial statements.

It is worth noting that all procedures related to the issuance of the commercial registration and articles of incorporation have been completed, establishing Rona Technology as an independent, single-person limited liability company fully owned by Advance International for Telecommunications and Information Technology.

The company will announce any future developments in due course.