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Announcements & Disclosures

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.

Disclosure of the Results of BOD Meeting of Al Mazaya Holding Co.

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15-November-2023

Date: 14/11/2023

Subject: Disclosure of the Results of BOD Meeting of Al Mazaya Holding Co.

Reference to the above subject, and our disclosure on the date of 12/11/2023, kindly find attached the material information disclosure form clarifying the results of the meeting of the BOD of Al Mazaya Holding Co. held on 14/11/2023.

 Form for Disclosing Material Information

14/11/2023

Date:

Al Mazaya Holding Co. K.S.C. P

Name of listed company

The Board of directors of Al Mazaya Holding Co. convened on Tuesday 14/11/2023 at 1:00 PM where they have approved the following:

1.Approved the company’s Consolidated financial statements for the fiscal period ending 30/09/2023.

2.The Board of Directors of Al Mazaya Holding Company agreed at its meeting today to obtaining Islamic credit financing with a local bank in total amount of KD 19,500,000 (Nineteen Million and Five Hundred Thousand Kuwaiti Dinars only) to be utilized as follows:

A.Renewing existing credit facilities amounting to KD 7,000,000 previously obtained from the bank.

B.New credit facilities amounting to KD 12,500,000, to be utilized in refinancing the company’s debt with another Kuwaiti bank and will be repaid over a period of 6 years in periodic installments, with a final payment ending on 31/10/2029.

3.The Board of Directors also agreed to pay the remaining amount of the company’s debt subject to the refinancing referred to in Clause (2-B) above to a Kuwaiti bank by an additional settlement of approximate amount of KD 6,500,000.

Material information

1.Regarding the board approval for the consolidated financial statements for the fiscal period ending 30/09/2023, enclosed are the following:

-Consolidated Financial Statements according to Boursa Kuwait templates.

-Consolidated Statement of Financial Position.

-Consolidated Statement of Income.

-Independent Auditor’s Report on the Consolidated Financial Statements for the fiscal period ended 30/09/2023.

2.Regarding the credit facilities and the additional settlement, this transaction will result in reducing the company’s debt towards banks by an amount of KD 6,500,000 in addition to reducing the finance cost of those facilities over the coming periods as a result of this settlement. The impact of this process will be included in the financial period in which all procedures related to this agreement between the two banks are completed.

Effect of the material information on the company financial position

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