For the date 06/17/2023

Morse Holding Company announced the contracting with Al moheet International Limited to transform it into a holding company, a closed joint stock company with corporate governance, for an amount of 253,000 riyals, including value-added tax. The aforementioned work will take 60 days to complete, and its financial impact will appear in the third quarter of 2023.

It is worth noting that corporate governance and transformation is one of the development solutions that Morse Business Services offers to its clients.

Since it was necessary to announce fundamental news related to influential financial contracts, the announcement was made.