|Date||03 January 2023|
|Company Name||Agility Public Warehousing Company KSCP|
|Material Information||Please be informed that based on what has been circulated in the media, the Public Authority of Industry (PAI) is intending to send notifications to Agility informing the company to vacate certain areas within one week. Agility would like to confirm that the company has not received any official notification from the PAI or any other Government entity. Noting that Agility has the right to manage those lands as per the below contracts:
Agility believes that the above-mentioned contracts of the sites that the PAI requests to be vacated have been renewed, since Agility has sent notification to the PAI with its willingness to renew those contracts as per the terms of the contract. To protect shareholders’ rights, Agility has filed lawsuits against PAI to prove the contracts of the lands under question have been extended.
|Impact of the material information on the financial position of the company
|At this time the impact on the financial position of the company cannot be determined. However, the plots in question based on the preliminary assessment of the run rate represent approximately 3.5% (43 Million Kuwaiti Dinar) of the consolidated revenues of the company and approximately 16% (39 Million Kuwaiti Dinar) of EBITDA. The book value of those plots represents approximately 6% of the company’s assets.|
Investor Relations Team