Reference to the above-mentioned subject; Agility Public Warehousing Company would like to announce about a material information as per the below template:
Date | 31/01/2025 |
Name of Listed Company | Agility Public Warehousing Company K.S.C.P (“Agility”) |
Material Information | Agility would like to announce that one of Agility Global PLC subsidiaries, will give a short-term facility for $400m to Al Farwaniya Property Developments LLC (“Farwaniya”), the company that owns and is developing Reem Mall.
This is a short-term facility as Al Farwaniya Property Developments LLC is in the process of finalising a new facility with third party lenders. |
Impact of the material information on the financial position of the company | Since Agility Global fully guarantees Al Farwaniya’s existing facility, which is being repaid, this guarantee will fall away upon repayment of the existing facility, thus the short-term loan will have no material impact on Agility Global’s obligations, however, the amount will be reflected as a loan to a related party in the company’s financials. |
Sincerely,
Investor Relations Team