In-principle approval to incorporate wholly owned step-down subsidiary in Egypt

The Board has given in-principle approval to set up a new wholly owned step-down subsidiary in the Arab Republic of Egypt.

Fri 25 Sep 2026

New Market

Arab Republic of Egypt

Structure

Wholly owned step-down subsidiary through Fabtech Technologies LLC, UAE

Business Line

Turnkey pharma projects including HVAC, MEP, CRP, CRE, machinery and related activities

Approval Status

In-principle approval from Board; subject to Egyptian regulator and UAE Embassy approvals

Capital

Shares to be subscribed in cash at face value

What was decided

The Board of Directors, through circular resolutions passed on September 25, 2026, granted in-principle approval for the incorporation of a wholly owned step-down subsidiary in the Arab Republic of Egypt. The entity will be set up through Fabtech Technologies LLC, UAE, which is a wholly owned subsidiary of the company.

Structure

• The proposed name is Fabtech Technologies, or such other name as the Egyptian regulatory authority may approve.
• Fabtech Technologies LLC, UAE will hold 100% of the proposed company.
• Since the UAE company is itself wholly owned by the listed entity, the new company becomes a step-down subsidiary.

Business

The entity will operate in turnkey pharma projects, including HVAC, MEP, CRP, CRE, machinery and other related activities — in line with the group's existing line of work.

Consideration

• The equity/share capital is proposed to be subscribed in cash by Fabtech Technologies LLC.
• Subscription will be at face value per share, subject to applicable laws.

Status and approvals

• The company is yet to be incorporated; incorporation will follow receipt and completion of requisite approvals and formalities.
• Incorporation is subject to approval from the regulatory body of the Arab Republic of Egypt and the UAE Embassy.

How to read this

This is an early-stage, enabling step that signals intent to build a presence in Egypt for the group's pharma engineering business. At this stage the announcement carries no investment amount, revenue projection or timeline. Investors may watch for the follow-up disclosure confirming actual incorporation and the capital committed.

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