Al Mazaya Holding Co (K.S.C) a leading property firm in the region, signed a contribution contract with "Oman Construction" to share in a real estate investment portfolio in Oman with a capital of OMR 3.1 million. Al Mazaya's share is 40% while 12% is for Oman Construction and 12% for "Mina" real estate company. The remainder of the percentage is submitted for IPO from a chosen group of investors and real estate companies.
Supplementary Disclosure of the Results of BOD Meeting of Al Mazaya Holding Company
05-April-2023
Date: 05/04/2023
Subject: Supplementary Disclosure of the Results of BOD Meeting of Al Mazaya Holding Company KSCP (Holding)
Reference to the above subject, and our disclosure on the date of 30/03/2023, kindly find attached the Supplementary disclosure form clarifying the results of the meeting of the BOD of Al Mazaya Holding Co. held on Wednesday 05/04/2023.
Supplementary Disclosure
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05/04/2023
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Date:
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Al Mazaya Holding Co. K.S.C. P
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Name of listed company
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Supplementary Disclosure from Al Mazaya Holding Company KSCP regarding the results of the Board of Directors meeting after discussing the updates regarding the initial offer received by the company to buy all the shares of the subsidiary company (Mazaya Ritim Istanbul Company) in the Republic of Turkey.
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Disclosure Subject
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30/03/2023
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Date of previous disclosure
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The Board of Directors of Al Mazaya Holding Company approved the sale of all the shares of the subsidiary (Mazaya Ritim Istanbul Company) in the Republic of Turkey, and approved the draft sale contract terms, for an amount of 310 million Turkish liras, which is equivalent to approximately 4.9 million Kuwaiti dinars.
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Disclosure updates
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Financial impact will be determined upon completion of the signing procedures and implementation of the deal terms.
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Financial impact of the update (if any)
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