| Element List | Explanation |
|---|---|
| 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 |