Reference to the above-mentioned subject; Agility Public Warehousing Company would like to announce about a material information as per the below template:
| Date | 16/9/2024 |
| Name of Listed Company | Agility Public Warehousing Company K.S.C.P (“Agility”) |
| Case Number | ICC Case No. 26666/AYZ/ELU |
| Case Subject Matter | Iraq Telecom Limited (United Arab Emirates) (“IT Ltd”), Agility’s subsidiary, acted as claimant against the respondent, Korek Telecom Company L.L.C (Republic of Iraq) (“Korek”), claiming the sum of USD 1,174,883,230.54 pursuant to the terms of a deed of guarantee in respect of the obligations of International Holdings Limited under a facility agreement dated 27 July 2011. |
| Judgment Date | 9/9/2024 |
| Court that issued the Judgment | International Court of Arbitration – International Chamber of Commerce (ICC) |
| Parties of the Case |
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| Judgment is in favor of | Iraq Telecom Limited (United Arab Emirates) |
| Concluding Judgment of the Court of First Instance | It is a final arbitral award pronounced by the ICC international court of arbitration (i) confirming that the subordination agreement is void, (ii) an order that Korek pays to IT Ltd, the amount of USD 1,174,883,230.54, (iii) an order that Korek pays to IT Ltd, all expenses and costs of USD 3,468,974.12 |
| Concluding Judgment of the Court of Appeal | N/A |
| Concluding Judgment of the Court of Cassation | N/A |
| Potential Effect of the Judgment on the Company | No financial impact at the moment |
Best Regards,
Investor Relations Team