Sellwin Traders Ltd. to Acquire Over 51% Stake in GLOBAL MARKET INSIGHTS IT SERVICE L.L.C Through MOU

Sellwin Traders Ltd. (STL) and GLOBAL MARKET INSIGHTS IT SERVICE L.L.C (GMIIT) have signed a Memorandum of Understanding (MOU) to form a holding and subsidiary relationship. Pursuant to the MOU, STL will acquire more than 51% equity stake in GMIIT, making GMIIT a subsidiary company of STL. The partnership aims to expand IT services, market research, consulting, and related operations of GMIIT in the Gulf region. The investment will be subject to detailed financial, legal, and operational due diligence and regulatory approvals. The Parties will jointly develop the business model, infrastructure arrangements, staffing, and operational strategies. STL will have the right to appoint majority directors to the board of GMIIT and key managerial positions will be filled in consultation between the Parties.