Announcement by Advance International Company for Communication and Information Technology regarding the conversion of one of its branches into an independent Limited Liability Company (subsidiary) under the name Nabah Technology Company, as part of the separation of the Technical Projects Execution | premargin

Announcement by Advance International Company for Communication and Information Technology regarding the conversion of one of its branches into an independent Limited Liability Company (subsidiary) under the name Nabah Technology Company, as part of the separation of the Technical Projects Execution

TadawulJuly 13, 2025View on exchange

Element List	Explanation
Announcement Detail	Advance International Company for Communication and Information Technology announces the completion of procedures for the spin-off of its Technical Projects Execution Sector. This has been achieved by converting one of its branches, registered under the name "Nabah Technology Company", into a single-member limited liability company (LLC), wholly owned 100% by Aictec. The newly formed company will be responsible for executing all technical project operations. This step comes as part of the company's plans to restructure its operational sectors, aiming to enhance focus on its core activities. It is important to note that this event does not have any material financial impact on the financial statements. The procedure has been completed, and a commercial registration certificate has been issued for the newly formed single-member LLC. The company will announce any future developments in due course.

Element List

Explanation

Announcement Detail

Advance International Company for Communication and Information Technology announces the completion of procedures for the spin-off of its Technical Projects Execution Sector. This has been achieved by converting one of its branches, registered under the name "Nabah Technology Company", into a single-member limited liability company (LLC), wholly owned 100% by Aictec. The newly formed company will be responsible for executing all technical project operations.

This step comes as part of the company's plans to restructure its operational sectors, aiming to enhance focus on its core activities.

It is important to note that this event does not have any material financial impact on the financial statements.

The procedure has been completed, and a commercial registration certificate has been issued for the newly formed single-member LLC.

The company will announce any future developments in due course.