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.
Commenting on the current news which came under “Arqaam Capital” Recommendation.
With reference to the above-mentioned subject and article 4-4 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 find attached disclosure of material information form:
Disclosure of material information Form
| Date: | 22/3/2019 |
| Name of listed company | Al Mazaya Holding Co. K.S.C.P |
| Material information | Commenting on the current news, which was published across the Kuwaiti newspapers, which came under the title “Arqaam Capital” Recommends to investors to buy the shares “110 fils is the fair value of mazaya shares “ ” Arqaama Cpital recommended to investors to buy Al Mazaya shares and set the target price at 110 fils, Which is an increase of 73% from the current market price as reported in the news. The company explains that the news and valuation is issued by an independent entity which is Arqaam Capital and the company did not interfere in the method of determining the fair value disclosed in the news. |
| Effect of the material information on the company financial position | There is no financial impact |
