Reference to the above-mentioned subject; Agility Public Warehousing Company would like to announce about a material information as per the below template:
| Date | 16 / 03/ 2025 |
| Name of Listed Company | Agility Public Warehousing Company K.S.C.P (“Agility”) |
| Case Number | Appeal no. 1880, 1910, 1920 for the year 2021 Commercial/Civil/Government/6 |
| Case Subject Matter | The contract between the Public Authority of Industry (“PAI”) and Agility for phase 5 located in South Amghara area. |
| Judgment Date | 24/11/2021 |
| Court that issued the Judgment | Court of Appeal |
| Parties of the Case | Public Authority of Industry and Agility |
| Judgment is in favor of | Public Authority of Industry |
| Concluding Judgment of the Court of First Instance | The court of first instance resolved in case no. 3538/2020 Commercial/Civil/Government that:
(i) it is ascertained that the lease agreement between Agility and PAI for phase 5 located in South Amghara area with an area of 427,164 sqm has ended as of April 7, 2020 and Agility to vacate the location and hand it over to PAI and (ii) the company has to pay to PAI an amount of KD 44,237.806 against the use of the land from 8/4/2020 until the date of the court judgment, in addition to the expenses and KD 10 for legal fees. The court also dismissed case no. 4542/2020 and requested the company to pay the expenses and KD 10 against legal fees. |
| Concluding Judgment of the Court of Appeal | The court of appeal has ruled in the above appeals as follows:
Firstly: to accept the 3 appeals in form. Secondly: on the subject of the main appeal to amend the appealed judgement with respect to the compensation and to obligate the company to pay to PAI an amount of KD 2,654,268 and any other additional compensation that might arise until the actual handing over of the land. Thirdly: to obligate the appellant in the two opposing appeals to pay the costs of the three appeals. |
| Execution | Agility will pay an amount of KD 9,138,610.416 on Sunday, March 16, 2025, representing the remaining balance of the court ruling issued against the company in favor of the Public Authority for Industry. With this payment, the company will have fully executed the aforementioned ruling in favor of the Public Authority for Industry. |
| Concluding Judgment of the Court of Cassation | N/A |
| Potential Effect of the Judgment on the Company | The amount paid will be reflected as expenses in the company’s financials in the first quarter of 2025, note that Agility and the other related parties have appealed this decision with the Court of Cassation. |
Sincerely,
Investor Relations Team