|Date||22 October 2020|
|Name of Listed Company||Agility Public Warehousing Company K.S.C.P (“Agility”)|
|Case Number||1609 of 2016 Commercial Civil General Government/5|
|Case Subject||A case was filed by the Public Authority of Industry (PAI) against Agility where PAI requested to compel the Company to settle the amount of KWD 2,061,456/500 with its legal interest from 6/1/2007 until the date of payment on the ground that the amounts received by the company from the tenants in the locations number (1 and 2) in Mina Abdullah area after a decision was issued terminating the contracts on 6/1/2007.|
|Judgment Date||7 January 2020|
|Court Issuing the Judgment||General Court Commercial Circuit Civil General Government / 5|
|Case Parties||General Director of the Public Authority of Industry – Claimant
Agility Public Warehousing Company K.S.C.P – Defendant
|Judgment in Favor||Agility|
|Content of Judgment of Court of First Instance||The court of first instance issued a judgment to the loss of the right of the claimant to file the claim by the three years statute of limitation and exempted the claimant from the expenses and compelled the claimant to settle KWD 100 as actual attorney’s fees.|
|Appeal Number||1- Appeal No. 455/2020 Commercial Civil Government/9 filed by the general director of the Public Authority of Industry
2- Appeal No. 528/2020 Commercial Civil Government/9 filed by Agility Public Warehousing Company.
|Appeal Subject||1- Appeal filed by the Public Authority of Industry requesting cancellation of the appealed judgment.
2- Appeal filed by Agility requesting to amend the appealed judgment and to resolve again to dismiss the case as it is filed by and against parties without capacity in the case and to resolve to dismiss it on the ground that previous judgment was issued in the same subject matter by a final and conclusive judgment or to dismiss the case.
|Appeal Parties||General Director of the Public Authority of Industry in his capacity
Agility Public Warehousing Company K.S.C.P
|Decision in Favor||General Director of the Public Authority of Industry in his capacity
|Content of Appeal Decision||The court of appeal resolved to accept the appeals in form and in substance to cancel the appealed judgment and to resolve again and to compel the appellee in appeal No. 455 of 2020 (Agility) to settle the amount of KWD 2,061,456/500 (Two Million and Sixty One Thousand and Four Hundred Fifty Six Dinars and Five Hundred Fils) and to reject the remaining requests and to compel the appellee to settle the adequate expenses for the 2 degrees of litigation and to settle the amount of KWD 30 as attorney’s fees and the expenses of the appeals.|
|Expected Effect on the company||This decision will be appealed by Agility before the court of cassation and Agility considers as advised by its legal counsels and law firms that the appeal by cassation may be successful.
The decision is enforceable, and a motion of suspension will be filed and in the event the motion of suspension is denied, the decision will likely be enforced against Agility that will settle the amount of KWD 2,061,456/500. However, this decision will not have a material impact on the Company’s Strategy and Investments.
December 4, 2022