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AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
JUNE 30, 2022
(All amounts are in Kuwaiti Dinars)

13. Annual General Assembly
The Annual General Meeting of the Shareholders held on March 17, 2022, has approved the consolidated fianancail
statements for the year ended December 31, 2021, and approved not to distribute cash dividend or bonus share and not
to pay Board of Directors remuneration for the year ended December 31, 2021.

The Annual General Meeting of the Shareholders held on February 22, 2021, has approved the consolidated financial
statements for the year ended December 31, 2020, and approved the following items:
x Not to distribute cash dividend or bonus share and not to pay Board of Directors remuneration for the year ended
December 31, 2020.
x To offset the entire accumulated loss balance amounted to KD 3,733,833 representing 5.42% from capital share as at
December 31, 2020 against reducing the balance of the share premium from KD 21,655,393 to KD 17,921,560.

The Parent Company’s Shareholders’ Extraordinary General Assembly meeting, held on April 25, 2021, approved the
cancellation of 58,719,140 direct treasury shares amounting to KD 18,625,088, by reducing the Parent Company’s capital
from KD 68,827,896 to KD 62,955,982, which is equivalent to the nominal value of direct treasury shares that amounts to
KD 5,871,914 in addition to the reduction of the statutory reserve by KD 12,753,174. This transaction was notarized in the
Parent Company’s commercial registry on June 8, 2021 (Note 1).

14. Fair value measurement
The Group measures financial assets such as financial assets at fair value through profit or loss, financial assets at fair
value through other comprehensive income, and non-financial assets such as investment properties at fair value at the
end of the financial period.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. The fair value measurement is based on the presumption that
the transaction to sell the asset or transfer the liability takes place either:

• In the principal market for the asset or liability, or
• In the absence of a principal market, in the most advantageous market for the asset or liability.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within
the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value
measurement as a whole:

The details of fair value measurement hierarchy are as follows:

Level 1: Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly
or indirectly observable.
Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.

The following table shows an analysis of captions recorded at fair value by level of the fair value hierarchy:

June 30, 2022
Level 2 Level 3 Total
Financial assets at fair value through profit or loss - 378,447 378,447
Financial assets at fair value through other
comprehensive income 1,240,239 8,225,190 9,465,429
Investment properties (a) 45,120,701 135,617,884 180,738,585
46,360,940 144,221,521 190,582,461

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