| Element List | Explanation |
|---|---|
| Announcement Detail | Al Babtain Power and Telecommunication Company announce that on date 20/05/2026, the Board of Directors approved the start of voluntary liquidation procedures for International Wind and Power Company, which is 100% owned by AL Babain Power and Telecommunication Company, has a paid-up capital of SAR 5,000,000. The reason for liquidation is that the International Wind and Power Company have not had any activities since several years. And there is no financial impact on the Company's consolidated financial statements following the completion of the liquidation procedures. |
Al Babtain Power and Telecommunication Company announce the Board of Directors’ Decision to Liquidate Its Subsidiary (Voluntarily)
AI Summary
- Al Babtain Power and Telecommunication Company approved the voluntary liquidation of its 100% owned subsidiary, International Wind and Power Company, on May 20, 2026.
- The subsidiary has a paid-up capital of SAR 5,000,000 and is being liquidated due to having no operational activity for several years.
- There is no expected financial impact on the company's consolidated financial statements resulting from the liquidation procedures.
