| Element List | Explanation |
|---|---|
| Introduction | Bawan Company announces the Board of Directors approval on the project of United Transformers Electric Company (“UTEC”) (Subsidiary) to establish a factory to manufacture high voltage transformers, at a total estimated cost of approximately SAR 80 million as a first phase. This project is part of Bawan Company’s strategy to diversify products and achieve leadership and innovation in the electrical industries sector. |
| Date of Board Resolution in Regard to the Project | 2025-02-21 Corresponding to 1446-08-22 |
| Project Start Date | During the first half of 2025. |
| Project Cost | Approximately SAR 80 million. |
| Financing method for the project | The project will be funded by the company's own resources and banking facilities. |
| Expected completion date of the project | During the first quarter of 2027. |
| Expected Financial Impact of the Project on the Company’s Results | The project is expected to have a positive impact on Bawan Company’s financial statements. |
| The Start of the Expected Impact of the Project on the Company’s Results | During the fourth quarter of 2027. |
| Expected Date for the Pilot Production of the Project to Begin | During the first quarter of 2027. |
| Duration of the pilot production of the project | Approximately 6 months. |
| Expected date for the commercial production of the project | During the fourth quarter of 2027. |
| Executing Party/Counter Party in the Project/Contract | To date, no contracting party has been appointed for the project. |
| Related Parties | There are no related parties involved. |
| Additional Information | The Company will announce any other significant developments concerning the project in due course. |
