Agility Public Warehousing Company KSCP (Agility) disclosed to the Boursa today that it has received a notice from the Public Authority of Industry “PAI” dated July 3rd 2018 expressing their intention not to renew contract number 157 related to South Amghara land. The land size is around 1 million sqm and generates around KD 6.5 million annually.
Agility is pursuing legal actions in this regard, as Agility believes has the right for this contract to be renewed.
On the same subject, Agility also disclosed that it has already filed a case with the court on 2/7/2018 to ascertain and confirm the lease arrangement No. 157 between the company and the Public Authority of Industry in relation to the land in South Amghara. The next hearing is scheduled on 5/9/2018.
Agility can’t assess the financial impact of this decision at the moment and will disclose any development that happens on a timely manner.