Date

:

05-01-2022

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Name of the listed Company:

ALIMTIAZ INVESTMENT GROUP COMPANY

 

Disclosure title:

Supplementary Disclosure - Judgment rejecting the withholding of the enforceability of the Appeal Judgment No. 1040/2021 (appeal Farwaniya) dated 26/10/2021

 

Date of Previous Disclosure:

26/10/2021

 

Developments that occurred to the disclosure:

On the petition to withhold enforceability of the judgment of the Court of Appeal No. 1040/2021 issued on 26/10/2021)

 

On 5/1/2022 the judgment of Court of First Instance - Urgent Circuit/7 was issued in the case No. 4112/2021,

filed by the petitioner: Ali Ahmed Zubaid,

against: Alimtiaz Investment Group Company,

 

The court ruled by accepting the petition on a form basis, and on the subject by rejecting it, continuing to implement the judgment in question, confiscating the bail, and fining the petitioner an amount of one hundred dinars and obligating him to expenses, and an amount of one hundred dinars in return for the actual attorney’s fees.

 

The above ruling affects the continuation of the implementation of the Court of Appeal judgment No. 1040/2021 issued on 26/10/2021

The court’s concluding judgment was:

“First: to accept the original appeals in form, and on the subject of appeals Nos. 1381, 1543, 1545, 1648, 4123 / 2021 Civil/8 rejecting them and obligated each appellant to pay the costs of his appeal and 100 dinars for actual attorney fees.

 

Second: By overruling the appealed judgment and ordered again to obligate the appellees jointly to pay to the appellant an amount of 11,925,059,464 KD (eleven million nine hundred and twenty-five thousand and fifty-nine Kuwaiti dinars and 464 fils) and obligated them to pay the appellant an amount of one thousand Kuwaiti dinars in return for actual attorney fees.

 

Third: Not accepting the two subsidiary appeals with obligating the subsidiary appellant to pay their expenses and an amount of 20 dinars in return for attorney fees for each appeal.”

 

The effect of the material information on the financial position of the Company:

It is not possible to determine the financial impact at the present time except after the execution of the judgment of the Court of Appeal No. 1040/2021 issued on 26/10/2021