Reference to the above-mentioned subject; Agility Public Warehousing Company would like to announce about a material information as per the below template:
| Date | 26 / 04/ 2026 |
| Name of Listed Company | Agility Public Warehousing Company K.S.C.P (“Makhazen”) |
| Case Number | Appeal no. 13, 187, 374 for the year 2022 Commercial/Civil/Government/4 |
| Case Subject Matter | The contract between the Public Authority of Industry (“PAI”) and Agility for phase 5 located in South Amghara area. |
| Judgment Date | 23/04/2026 |
| Court that issued the Judgment | Court of Appeal |
| Parties of the Case | Public Authority of Industry and Makhazen |
| Judgment is in favor of | Agility Public Warehousing Co |
| Concluding Judgment of the Court of First Instance | |
| Concluding Judgment of the Court of Appeal | 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. |
| 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 | The court first ruled to accept the three cassation appeals in form. Second: With respect to Appeal No. 374 of 2022 (Commercial), to partially overturn the challenged judgment with regard to its assessment of the yield for using the land, and obligating the first respondent to pay the costs and twenty dinars in attorneys’ fees. Third: With respect to Appeals No. 13 and 187 of 2022 (Commercial), to dismiss both appeals and order each appellant to bear the costs of its respective appeal and pay KWD 20 as legal fees. Fourth: With respect to Appeals No. 1910 and 1920 of 2021 (Commercial), and within the limits of what was partially overturned, to amend the appealed judgment regarding the claim for compensation for use and occupation (rent), by ordering the appellant, Agility, to pay the First Respondent, the Public Authority for Industry, an amount of KWD 80 for each day of delay from the contract expiry date of 8 April 2020 until full handover, as consideration for continued use and occupation, while upholding the judgment in all other respects, and ordering the appellant to bear the proportionate legal costs and pay KWD 20 as legal fees. |
| Potential Effect of the Judgment on the Company | As a result of the aforementioned judgment, the Company has the right to recover an amount of KWD 11,659,198.416. Any financial impact arising from this amount will be recognized under other income in accordance with applicable accounting standards. Also note that this site has already been handed over to the authority in November 2024. |
Sincerely,
Investor Relations Team