Reference to the above-mentioned subject; and in accordance with Chapter 10 of the Capital Markets Authority’s bylaws of Law No. 7 of the year 2010 on Disclosure and Transparency as well as its subsequent amendments and resolutions, Agility would like to announce:
| Date | 21 April 2024 |
| Company Name | Agility Public Warehousing Company KSCP |
| Material Information | With reference to CMA’s request on April 18, 2024, to comment on the news published in a local newspaper, please note that, and as previously disclosed on March 28, 2024, the Board of Directors of Agility has decided to distribute interim dividends to the shareholders in the form of cash dividends of 10%, i.e. 10 fils per share, in addition to in-kind dividends representing 49% of the capital of Agility Global PLC, a UAE company expected to be listed on the Abu Dhabi Securities Exchange (ADX). Listing Agility Global on ADX is a technical listing which means it is limited to listing the shares distributed to the existing shareholders without any private or public offering of those shares, in accordance with the mechanisms followed by the ADX for this type of listing.
The value of this in-kind dividends as stated in the previous disclosure will be approximately KD 800 million, this amount will be deducted from Agility’s Retained Earnings and will be distributed to the shareholders registered in the company’s shareholders records with Kuwait Clearing Company on the record date, so that each shareholder of Agility will receive two shares of Agility Global UAE for each share they own in Agility KSCP. Consequently, the distribution of the shares of Agility Global PLC (after deducting Agility’s Kuwait treasury shares) will be as such: 1. 5.1 billion shares, representing 49% of the company’s shares to be distributed to existing shareholders of Agility’s parent company. 2. About 5.3 billion shares represent 51% of Agility’s parent company, with this percentage Agility KSCP will be consolidating Agility Global financials with its own financials. The company has also announced the corporate action timeline where April 15 was the last trading day and April 16 the ex-dividends date. As explained during the analysts’ conference, a significant portion of the debt is related to the funded equity collar agreements on some of DSV’s shares and also to the debt of some of the subsidiaries outside Kuwait and since DSV investment and those subsidiaries will be moved to Agility Global, the debt associated to them will move to Agility Global as well. But eventually, Agility Public Warehousing company KSCP will be consolidating the financials of those companies with its financials, and thus these financials will indirectly reflect the consolidated debt. Shareholders may refer to the previously disclosed Analyst Conference transcript for more information. |
| Financial impact | No impact |
Best Regards,
Investor Relations Team