We are pleased to inform that based on in-principle approval from the Board of Falcon Insurance Co. SAOC, our 51% subsidiary,  proposes to raise its capital  through Initial Public Offering (IPO), subject to approval from CMA, other regulators and shareholders. The IPO details, such as amount, price, timing etc. will be finalized and announced after approval from the Shareholders of Falcon Insurance, CMA and other regulators are obtained.

Best regards,

Reji Joseph

Chief Executive Officer