Kindly find below Agility’s statement to the stock exchange with respect to the above subject:

 

Company Name Agility Public Warehousing Company KSCP “Agility”
Case Number 314/2019 Commercial/Civil/Government/5 and the appeals 1847, 1990, 2015/2019 Commercial/Civil/Government/1
Case Subject Appeal of judgement No. 314 for the year 2019 Civil Commercial Government/5 dated 25/4/2019 that ruled to end the contract No. (157) between Public Authority of Industry (PAI) and Agility as of June 30, 2018 and to force Agility to vacate the land and expel it as a beneficiary of the location  as trespasser and occupier of the land without any valid ground, and the PAI’s recovery of possession of this land and to obligate Agility to pay 80 Kuwaiti dinars for each day of delay from 1/7/2018 until the handing over of the land, in compensation to PAI and the inclusion of the judgement for expedited enforcement, and the rejection of the counterclaim filed by Agility against PAI.
Date of the decision 08/12/2019
Court Decision Court of Appeal
Parties involved
  1. The general director of the Public Authority of Industry  against Agility in case No. 314/2019
  2. Agility against   the general director of the Public Authority of Industry, the Minister of Commerce and Industry,  the undersecretary of the Ministry of Commerce and Industry and the general director of the Kuwait Municipality in counterclaim No. 3587/2018
  3. Agility against PAI and the  general director of the Public Authority of Industry in appeals No. 1847,1990,2015/2019
Decision in favor of Agility
First Instance court decision On 25/4/2019, the court of first instance resolved in case 314/2019 that the lease agreement no. (157) between Agility and PAI has ended as of June 30, 2018 and Agility to vacate the location as trespasser and occupier of the land without any valid ground, and to return the ownership of the land to PAI and to pay 80 Kuwaiti dinars for each day of delay from 1/7/2018 until the handing over of the land, in compensation to PAI, and the inclusion of the judgement for expedited enforcement and the rejection of the counterclaim filed by Agility against PAI.
Appeal court decision On 8 December 2019, a ruling for the judgments No. 1847, 1990, 2015 for the year 2019 Commercial, Civil, Government/1 resolved (1) to accept in form the three (3) appeals numbers 1847, 2015, 1990 for the year 2019, (2) to accept in form the joining of joined adverse parties, and (3) in substance, to overturn the appealed judgment in respect of the outcome in the original case and to resolve to reject the case for failure to have it filed by a person acting with capacity and to uphold the appealed judgment in every other aspect and to compel the appellant to settle the appropriate amount of expenses of the 3 appeals and the off-set in attorney fees.
Cassation Court Decision Not applicable at the moment
Financial Impact There is no material impact of this judgment as the company is still managing the plots no. 1,2,3 in South Amghara with all legal rights and as this judgment was issued by court of appeal it is considered final with respect to previous ruling against Agility. Agility will be reviewing and assessing this ruling and will disclose if any further action will be taken.