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Al Babtain Power and Telecommunication Company announces the initiation of the transfer process for one of its factories to one of its subsidiary companies.
| Element List | Explanation |
|---|---|
| Announcement Detail | Al-Babtain Power and Telecommunication Company announces its board of Directors approval to initiate the process of transferring assets and liabilities associated with the Al Babtain Lighting & Panel Board Factory at the meeting dated 12/26/2023. This transfer will be carried out from Al Babtain Power and Telecommunication Company to Integrated Lighting Company, a subsidiary that is wholly owned 100 % by Al Babtain Power and Telecommunication Company. The purpose of this transfer is to optimize the utilization of the lighting & Panel Board factory that like activities and to expand the activities of Integrated Lighting Company. The process will involve adhering to all official procedures and regulations with the relevant authorities, and there will be no essential financial impact as a result of this action. Any updates regarding this process will be announced by the company on time. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 56.9
Net Change -1.05 (-1.81%)
Value Traded (Sar) 32,388,175.55
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