Al Mazaya Holding Co (K.S.C) a leading property firm in the region, signed a contribution contract with “Oman Construction” to share in a real estate investment portfolio in Oman with a capital of OMR 3.1 million. Al Mazaya’s share is 40% while 12% is for Oman Construction and 12% for “Mina” real estate company. The remainder of the percentage is submitted for IPO from a chosen group of investors and real estate companies.
Supplementary Disclosure of material information.
With reference to the above subject and article 4-1-1 of chapter 4 of book 10 of the executive regulation of law No.7 of 2010 regarding the establishment of the Capital Markets Authority and regulating securities’ activities, kindly find attached the form of the Supplementary disclosure of material information.
Supplementary Disclosure
| Date: | 15/08/2023 |
| Name of listed company | Al Mazaya Holding Co. K.S.C. P |
| Disclosure Subject | Partial settlement of due debts to one of the Kuwaiti banks |
| Date of previous disclosure | 15/02/2023 |
| Disclosure updates | With reference to our previous disclosure dated 15/02/2023, Al Mazaya Holding Company has partially settled the due debts with a total amount of KD 7,045,395 to one of the Kuwaiti banks in addition to the related financing charges and other due fees as of the settlement date. |
| Financial impact of the update (if any) | This will be reflected in the interim consolidated financial information of the Company for the third quarter of 2023. This transaction will reduce the financial commitments associated with the finance cost of the banking facilities as of the date of settlement in addition to the enhancement of future financial liquidity of the company. |
