Electrical Industries receives a letter from a major shareholder transferring some of his shares to his subsidiaries

The Electrical Industries logo appears in the official announcement.

Electrical Industries Company is a Saudi joint-stock company listed on the financial market.

Electrical Industries announced that it received a letter today, Thursday, from Ajda Industrial Services Company "the shareholder", a major shareholder in the company owning 18.75% of its shares, stating the completion of transferring 42.18 million shares of his shares in the company to investment portfolios of companies affiliated with the same shareholder. The company said in a statement on Tadawul that this procedure is part of an internal ownership restructuring. It indicated that the transfer process mentioned above resulted in a change in the ownership percentage of a major shareholder in Electrical Industries Company on the Tadawul website.

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This transfer is part of restructuring ownership among entities affiliated with the same shareholder, without changing actual control. It may not directly affect the stock price or management. However, investors may monitor any subsequent moves by the shareholder. It is customary for companies to announce such adjustments in compliance with disclosure rules.