IGI Dubai to acquire 100% control of Botswana subsidiary

International Gemological Institute Limited (IGI) announced that its step-down wholly owned subsidiary, IGI Dubai, has approved the consolidation of control over International Gemological Institute (Botswana) Proprietary Limited (IGI Botswana). Upon completion and regulatory approvals, IGI Botswana will become a wholly owned subsidiary of IGI Dubai and a step-down subsidiary of the Company. The acquisition aims to strategically establish and expand IGI's operational presence in diamond grading and certification services within Botswana. The transaction is not a related party transaction and requires approval from the Republic of Botswana. The completion is expected within one week. IGI Botswana has a turnover of Nil and is yet to commence business operations.