Date

:

01-07-2024

Please be informed that a session has been scheduled on 14/07/2024 for the sale of some of the Company’s assets through an auction (securities listed on Boursa Kuwait and securities in the electronic auction market) via Boursa Kuwait. This is in execution of the Cassation Court judgment in case No. 2869 of 2022 issued against the Company to pay an amount of 26.95 million KD to Aayan Gulf Company (Qatari).

 

In the event the assets are sold in the auction, the proceeds will be deposited in the execution file with the Ministry of Justice, which has been seized by the Public Prosecutor due to a money laundering complaint filed by Al-Imtiaz Investment Group Company.

Additionally, the Company continues to take legal measures to halt the enforcement procedures against it and to close the execution file. We will keep you informed of any new material information in this regard.

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