SEPC Limited announced that a Services Investment License has been obtained to incorporate a 100% subsidiary namely - SIBC Limited Company, in Saudi Arabia for the purpose of exploiting the market potential in the kingdom of Saudi Arabia as well as strengthen presence in Gulf Cooperation Council region (GCC) using SEPC's qualifications and promoter MARK AB experience in that region. Date of Services Investment License 25 March 2023. Authorised Capital: SAR 3,00,000 (To be invested), Turnover: Not applicable since SIBC is being incorporated as a new Limited Liability Company.

SEPC Limited shall subscribe to the Share Capital of SAR 300,000 to make it a 100% Subsidiary.