Ruling No. 314/2019 regarding the land in South Amghara
Kindly find below Agility’s statement issued to Boursa Kuwait.
“The Public Authority for Industry (PAI) has filed a case No. 314 for the year 2019, Civil- Commercial-Government/5, dated 15/1/2019 requesting to confirm the end of the contract No. (157) between 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 located in South of Amghara with an area of 1,057,763 sqm and the PAI’s recovery of possession of this land and obligate Agility to pay rent starting from 1/7/2018 as a compensation to the PAI, the owner of the contracting contract.
Agility, on the other hand, filed a counterclaim to ascertain and confirm the lease agreement No. 157 between Agility and the PAI in relation to the land in South Amghara.
On 25/4/2019, the court of first instance resolved in case No. 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 and to return the ownership of the land to PAI and to pay 80 Kuwaiti dinars starting from 1/7/2018 for each day of delay until the handing over of the land, in compensation to PAI and the rejection of the counterclaim filed by Agility against PAI.
There is no material impact at this time as this judgment was issued by a court of first instance and is not final. Agility will appeal the judgment.”
Investor Relations Team