United Electronics Company (eXtra) announces approval of the Board of Directors in the meeting held on 16th of Dec. 2021, to establish a fully owned subsidiary by (eXtra) in Arab Republic of Egypt. That will be the first expansion step outside the GCC. that is derived by Company's vast experience in leading the consumer electronics sector for more than eighteen years, and through inject initial direct investments of EGP 1bn into the Egyptian Market. This step comes to strengthen the company's regional footprint, and to support its strategy to diversify sources of income and maximize profits through offering the best value to its customers, which will add real value to its shareholders. The Company will start immediate to obtain the approvals and licenses needed from all concerned parties to establish the subsidiary to start commencing its operations.