In continuation of our letter dated June 19, 2025, this is to inform you that "QeDigital Gulf Software Services FZCO", a wholly owned subsidiary of the Company has been incorporated on ....
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ACE Software Exports has incorporated a wholly owned subsidiary named QeDigital Gulf Software Services FZCO in Dubai, UAE on September 11, 2025 as a Free Zone Company. The new entity has an authorized capital of AED 10,000 divided into 1,000 ordinary shares of AED 10 each, with Ace Software Exports subscribing to 100% of the shares at face value for a total cash consideration of AED 10,000. The subsidiary will operate in the IT sector, offering software development, IT services, technology consulting, and digital transformation solutions targeted at the Middle East and surrounding regions. Promoters have no personal interest in the new entity, and the company has yet to commence business operations.
A small but strategic geographic expansion into the Middle East IT services market with minimal capital outlay. Positive long-term signal for growth as the company broadens its global footprint, though near-term financial impact will be negligible given the small investment size.