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 material information
14-February-2024
Date: 14/02/2024
Subject: Disclosure of material information
With reference to the above subject and to the article 1-1-4 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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14/02/2024
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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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As part of the procedures for preparing the company’s annual consolidated financial statements as of December 31, 2023, and in accordance with the requirements of international financial reporting standards with regards to testing the Goodwill (being one of the company’s intangible assets) for impairment, this test had resulted in the impairment of that Goodwill in full.
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Material Information
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A Goodwill impairment loss amounting to KD 2,254,210 will be recognized in the consolidated financial statements for the fiscal year ended on December 31, 2023.
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Effect of the material information on the company financial position
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