AIA Engineering Limited — Important, 20-11-2024: General Updates

Vega Industries (Middle East) FZC, a wholly-owned subsidiary of AIA Engineering Limited, has acquired an additional 13% stake in Vega MPS Pty Limited (VMPS), Australia, for a total consideration of AUD 2,133,093. This acquisition increases Vega ME's total shareholding in VMPS to 56%. VMPS operates in the mining sector, providing design, supply, and quality control services. For FY 2023-24, VMPS reported a turnover of AUD 34.54 million and a profit of AUD 4.81 million. This acquisition aligns with AIA Engineering's expansion strategy in the mining industry. Investors should note this positive development, which enhances Vega ME's position in a growing market.