Page 12 - Mazaya Holding_FS_E_Q3_2021

AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
SEPTEMBER 30, 2021
(All amounts are in Kuwaiti Dinars)

The results of operation related to the subsidiary under disposal for the period from January 1 ,2021 to September 30,
2021 which are included in the Discontinued operations are as follows :

For the three months ended For the nine months ended
September 30, September 30,
2021 2020 2021 2020

Revenue:
Rental income 133,338 198,699 447,801 635,954
Net management fees and commission income 5,571 18,134 9,692 39,924
Total revenue 138,909 216,833 457,493 675,878
Costs:
Cost of rental (44,051) (37,483) (115,257) (112,768)
Total Costs (44,051) (37,483) (115,257) (112,768)
Gross profit 94,858 179,350 342,236 563,110
Change in fair value of investment properties - - - (134,382)
Administrative and marketing expenses (1,854) (3,370) (9,760) (6,654)
Operating profit 93,004 175,980 332,476 422,074
Net other expenses (2,374) (44,622) (40,903) (480,675)
Profit (Loss) for the period from Discontinued
operations 90,630 131,358 291,573 (58,601)

6. Treasury shares
December 31,
September 30, 2020 September 30,
2021 (Audited) 2020
Number of shares 5,600 59,331,584 59,331,584
Percentage of issued shares (%) 0.001 8.62 8.62
Market value (KD) 426 3,370,034 3,215,772
Cost (KD) 1,777 18,819,349 18,819,349

The Parent Company’s management had partially earmarked an amount equivalent to the balance of treasury shares
as on September 30, 2021 from the Share Premium as non-distributable during the period of the group's holding of the
treasury shares.

The group canceled 58,719,140 shares from the treasury shares balance by reducing the capital and statutory reserve
(note 11) .

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