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.
The Company has entered into a contract with a person for the sale of shares held in non-listed Kuwaiti company with a sale value of KD 2,481,992.520
Title: The Company has entered into a contract with a person for the sale of shares held in non-listed Kuwaiti company with a sale value amounting to KD 2,481,992.520
With reference to the above mentioned subject and to paragraph 3 of Article 1-1-4 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 note the following:
| Date: | 23/06/2016 |
| Name of listed company | Al Mazaya Holding Co. K.S.C.P |
| Material information | The company has entered into a contract with a person for the sale of shares held in non-listed Kuwaiti company with a sale value amounting to KD 2,481,992.520 (Two million four hundred and eighty one thousand and nine hundred ninety two Kuwaiti dinars and 520 fils only). |
| Effect of the material information on the company financial position | This transaction will result in a profit amounting to KD 633,718(Six hundred thirty three thousand and seven hundred eighteen Kuwaiti dinars only), which will be included in the consolidated financial information for the interim period ended 30-06-2016 |
