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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.

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Disclosure of the Results of BOD Meeting of Al Mazaya Holding Co.

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19-February-2024
Date:
19/02/2024
Subject
Disclosure of the Results of BOD Meeting of Al Mazaya Holding Co.

Reference to the above subject, and our disclosure on the date of 14/02/2024, kindly find attached the material information disclosure form clarifying the results of the meeting of the BOD of Al Mazaya Holding Co. held on 19/02/2024.

 Form for Disclosing Material Information

Date:

19/02/2024

Name of listed company

Al Mazaya Holding Co.

Material information

The Board of directors of Al Mazaya Holding Co. has convened on 19/02/2024 at 1:00 PM where they have approved the following:

  1. Approved the company’s Annual Financial Statements for the year ended 31/12/2023.
  2. The Board of Directors recommended not to distribute dividends or bonus shares for the year ended December 31, 2023. And recommended adding the following item to the agenda of the Shareholders’ Annual General Assembly of the parent company to authorize the Board of Directors to distribute interim dividends (quarterly or semi-annually) to the Shareholders of the Parent Company starting from the first interim financial statements of the Group following the completion of the merger with First Dubai Real Estate Development Co. as follows:
    • Discussing the Board of Directors’ authorization to distribute interim dividends (semi-annually or quarterly) starting from the first interim financial statements of the Group following the completion of the merger with First Dubai Real Estate Development Company, and authorizing the board to determine the dividends rate, provided that the distribution is from real profits in accordance with applicable accounting principles without impacting the Company’s paid-up capital.
Effect of the material information on the company financial position

Attached

–Annual Consolidated Financial Statements according to Boursa Kuwait templates.

–Consolidated Statement of Financial Position.

–Consolidated Statement of Income.

–Independent Auditor’s Report on the Annual Financial Statements for the year ended 31/12/2023.

Date:

19/02/2024

Name of listed company

Al Mazaya Holding Co.

Material information

The Board of directors of Al Mazaya Holding Co. has convened on 19/02/2024 at 1:00 PM where they have approved the following:

  1. Approved the company’s Annual Financial Statements for the year ended 31/12/2023.
  2. The Board of Directors recommended not to distribute dividends or bonus shares for the year ended December 31, 2023. And recommended adding the following item to the agenda of the Shareholders’ Annual General Assembly of the parent company to authorize the Board of Directors to distribute interim dividends (quarterly or semi-annually) to the Shareholders of the Parent Company starting from the first interim financial statements of the Group following the completion of the merger with First Dubai Real Estate Development Co. as follows:
    • Discussing the Board of Directors’ authorization to distribute interim dividends (semi-annually or quarterly) starting from the first interim financial statements of the Group following the completion of the merger with First Dubai Real Estate Development Company, and authorizing the board to determine the dividends rate, provided that the distribution is from real profits in accordance with applicable accounting principles without impacting the Company’s paid-up capital.
Effect of the material information on the company financial position

Attached

–Annual Consolidated Financial Statements according to Boursa Kuwait templates.

–Consolidated Statement of Financial Position.

–Consolidated Statement of Income.

–Independent Auditor’s Report on the Annual Financial Statements for the year ended 31/12/2023.