Exicom Tele-Systems Limited — Important, 27-01-2025: General Updates

Horizon Power Solutions L.L.C-FZ, a wholly-owned subsidiary of Exicom Tele-Systems Limited, has received an initial subscription of AED 50,000. This investment involves the acquisition of 5,000 shares at AED 10 each, giving Exicom 100% ownership of the new entity incorporated in Dubai. The subsidiary operates in the telecommunications and electric vehicles sector, focusing on battery maintenance, trading, electric vehicle charging station systems, and solar energy components. The investment decision followed approvals from the Audit Committee and Board of Directors, reinforcing Exicom's strategic direction in expanding its operations within related sectors. Watch closely for the implications of this move on Exicom’s long-term growth potential.