Key Development

The Board of Directors of Kellton Tech EU Limited (wholly owned subsidiary of Kellton Tech Solutions Limited) approved the formation of a Joint Venture with Action Energy Company K.S.C.P. (AEC), Kuwait at its meeting held on Monday, July 06, 2026.

Joint Venture Structure

  • Equity Shareholding: Action Energy Company K.S.C.P. will hold 51% equity share capital
  • Kellton Tech EU Limited will hold 49% equity share capital
  • Initial establishment period: 5 years
  • Renewal terms: Automatic renewal for successive periods of 3 years unless otherwise agreed by parties

Business Scope and Geography

The Joint Venture will undertake business across the Gulf Cooperation Council (GCC) region with the initial office proposed to be established in Doha, Qatar.

Conditions and Timeline

The Joint Venture Agreement is expected to be executed upon completion of:

  • Customary conditions precedent
  • Applicable regulatory compliances of GCC Region
  • Subject to completion of applicable statutory and regulatory requirements

Additional Information

The company committed to making further disclosures and providing updates as required by applicable provisions. The information is available on the company's website at www.kellton.com.