Date

:

12-04-2021

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Al-Imtiaz Investment Group Company would like to clarify that part of its core business is to seek lucrative investment opportunities and it receives many opportunities on a consistent basis.  However, entry into such investment opportunities is subject to completion of the required studies, for example including but not limited to due diligence studies, valuation studies, and other studies in accordance with institutional best practices and with the Islamic Sharia principles.

With regards to the recent information exchanged on various social media platforms, Al-Imtiaz Investment Group Company, explicitly categorically denies that it has acquired a series of cafes and restaurants in the amount of KD 15 million and that there are no current negotiations of any kind for these cafes and restaurants.  The Company also re-iterates that such investment opportunities are subject to internal procedures and extensive studies to establish fair value and other requirements with the assistance of specialized external parties to select the investments that are aligned with the Company’s outlook.