Dear Investor,
Kindly find below what was disclosed on Boursa Kuwait today as a clarification on what was mentioned in Al- Qabas newspaper.
“With reference to the above subject and to what was published in Al Qabas newspaper issue no.16275 dated 23 September 2018 and pursuant to the company’s disclosure dated 4 July 2018, the company filed against the Public Authority of Industry “PAI” and others case No. 3587/2018 Commercial/Civil/Government/24 requesting a judgment confirming the renewal of the contractual agreement between the company and the Public Authority of Industry and the continuation of the lease agreement dated 29/11/1989 No.157 for the first, second and third phase of “South Amghara Scrap” that resulted into case No. 3686/2018 Commercial/Civil/Government/24 requesting a judgment to prevent the Public Authority of Industry from disturbance of the company’s possession, use, exploitation and its investments of the plots subject to the same lease agreement. And case No. 4522/2018 Commercial/Civil/Government/1 requesting the delegation of the Ministry of Justice experts to proceed with the conciliation evidenced by the final requests and the ruling to prove the renewal of the contractual agreements between the company and the Public Authority of Industry in continuation of the same lease agreement and to prevent disturbance by “PAI” and others.
The company asserts that it was not notified of the termination of the contract, or the evacuation of the site, or that there is an objection on its presence in any way before the end of the contractual period provided for in the contract, and that the eviction notice was only given on the date of 3/7/2018, i.e. after the contract entered into a renewal period without objection from “PAI”. The necessary legal measures will be taken to challenge the decision of evacuation in front of the courts.”
Sincerely,
Investor Relations Department
Agility Public Warehousing Company