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 material information
12-November-2023
Date: 09/11/2023
Subject: Disclosure of material information
With reference to the above subject and Paragraph (22) article 4-1-1 of chapter 4 of book 10 of the executive regulation of law No.7 of 2010 regarding the establishment of the Capital Markets Authority and regulating securities’ activities, kindly find attached disclosure of material information form.
Disclosure of material information
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09/11/2023
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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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First Dubai Real Estate Development Company K.S.C.P (a subsidiary of Al Mazaya Holding) disclosed on Boursa Kuwait on 09/11/2023 that its Board of Directors met and agreed to terminate the transaction of the sale of whole shares of the subsidiary in the Kingdom of Saudi Arabia, and that they reached a final settlement with the buyer, as detailed in the disclosure: “A copy of the disclosure is attached.”
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Material information
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Upon implementation of the obligations included in the termination and settlement agreement between the subsidiary and the buyer, the ultimate financial impact of that transaction will then be reflected in the Company's consolidated financial statements.
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Effect of the material information on the company financial position
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