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With reference to our previous disclosure dated 15/02/2023 regarding signing an agreement between Al Mazaya Holding Co. and a local bank to extend the Islamic credit facilities granted to the company that amounted to KD 34,670,394 in total, the company has signed an addendum to that facility agreement to refinance and reprofile the remaining balance of those facilities amounting to KD 22,250,000 (which includes cash facilities of KD 22,000,000 as well as available non-cash facilities of KD 250,000), where those cash facilities are to be settled within 6 years period through quarterly installments and final balloon payment ending on 02/01/2030 at max. Furthermore, the company has settled an amount of KD 4,000,000 during the procedures of completing the signature and notarization of that credit facility in front of public authorities and hence, the total outstanding amount of those cash facilities has become KD 18,000,000.
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Disclosure updates
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