IssuerAnnouncementDetailsV2Portlet
United International Holding Company Announces the Latest Updates Regarding the Signing of a Memorandum of Understanding with NowPay Corp to establish a Company for the purpose of providing payroll administration and processing services through Fintech
Element List | Explanation |
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Introduction | United International Holding Company announces the establishment of a specialized company (Now Access) for the purpose of providing payroll administration and processing services through Fintech in the Kingdom of Saudi Arabia, with a capital of SAR 10 million and a total investment to reach SAR 75 million. The ownership structure will be 75% for United International Holding Company and 25% for NowPay Corp. |
Previous Announcement | signing a Memorandum of Understanding with Nowpay Corp to establish Company for the purpose of providing payroll administration and processing services through Fintech |
Date of Previous Announcement on Saudi Exchange’s Website | 2025-01-05 Corresponding to 1446-07-05 |
Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
Latest Developments Of The Announced Event | United International Holding Company announce the completion of the company’s establishment(Now Access) , for the purpose of providing payroll administration and processing services through Fintech in the kingdom of Saudi Arabia, with a capital of SAR 10 million. The ownership structure will be 75% for United International Holding Company and 25% for NowPay Corp. The financial impact is expected to be reflected in the results of the third quarter of the fiscal year 2025. |
The costs associated with the event, and if they have changed or not with indication of the reasons. | NA |
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.