Al Moammar Information Systems Co. — Board/Management Information 2021

Dec 26, 2021

Al Moammar Information Systems Company ( MIS ) announces the latest developments for the company’s announcement of the Board of Directors’ approval to establish a (100% owned) limited liability company

7200 · 26/12/2021 08:16:46 · Announcement #66073 · View on Saudi Exchange

Al Moammar Information Systems Company ( MIS ) announces the latest developments for the company’s announcement of the Board of Directors’ approval to establish a (100% owned) limited liability company

Element List	Explanation
Introduction	Referring to the announcement of Al-Moammar Information Systems (MIS) on the latest developments to be announced on 21-02-1443 AH, corresponding to 28-09-2021 AD, regarding the approval of the Board of Directors to establish a subsidiary company with limited liability owned by (100%), the company announces On the latest developments in this regard, which are as follows:-

1) Obtaining approvals and licenses to start work in the subsidiary company (Al-Tamayouz Company for Application Solutions for Information Technology, MIS FORWARD) has been completed, the work of the company that adopts in developing its business on the application of best practices and international standards will be launched, one of its goals will be to be proactive In developing its business, embracing and putting forward bold creative ideas and creative initiatives and implementing them to enter the markets. The company will also adopt and develop innovative technologies and applications of value that will be pioneers in its field. The company first products will be:

• Develop a startup studio to support the development and creative ideas (Venture Studio)

• Development of the Buy now pay later application

• Development of the E-market platform and application.

• Development of the Open Banking Infrastructure.

2) His Excellency Dr. Abdullah bin Ghazi Al-Ghamdi has been appointed CEO of Excellence for Application Solutions for Information Technology “MIS FORWARD.” Dr. Abdullah Al-Ghamdi has more than 25 years of experience in the technical, administrative, and business development fields, where he obtained his doctorate from the Faculty of Electrical and Electronic Engineering from the University of Wales Britain, a professional engineer certificate from the British Council of Engineers and the European Engineering Organization, a fellowship from the Engineering and Technology Organization, the United Kingdom, and a higher member of the American Electrical and Electronics Engineers Organization (IEEE) and obtaining professional certificates in the project and program management, and he also participated in the membership of several boards of directors He chaired several high and executive committees, and held several senior technical and administrative positions, including assigning tasks to the work and management of the National Information Center. He also participated in and headed several development programs for digital transformation and worked as a consultant in several agencies.

Al Moammar Information Systems Company will announce any material developments.

God grants success. Previous Announcement Al Moammar Information Systems Company ( MIS ) announces the signing of a binding agreement with a European ( Fintech ) company to develop and implement several applications Date of Previous Announcement on Tadawul's Website 2021-10-06 Corresponding to 1443-02-29 Percentage of fulfilled achievement Not Applicable Event's Expected Completion Date Not Applicable Reasons for Exceeding the Announced End Date Not Applicable The costs associated with the event, and if they have changed or not with indication of the reasons. Not Applicable Impact of the Delay on the Company's Financial Results Not Applicable Additional Information Not Applicable

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.