Reference to the above-mentioned subject; and in accordance with Chapter 10 of the Capital Markets Authority’s bylaws of Law No. 7 of the year 2010 on Disclosure and Transparency Agility would like to announce:
| Date | 18/06/2023 |
| Company Name | Agility Public Warehousing Company KSCP |
| Case Number | Case no. 29 for the year 2023 Commercial / Civil / Government -7 |
| Case Subject | Request to prove the contractual relationship in relation to contract No. 8/2003 dated 12/08/2003 in Doha with an area of 941420 m2. |
| Date of the decision | 18/06/2023 |
| Court issuing the decision | Court of Appeal |
| Parties involved | Agility Public Warehousing Company KSCP against:
the General Director of the Public Authority of Industry in his capacity, the Minister of Commerce and Industry and the chairman of the Public Authority of Industry in his capacity, the undersecretary of the Ministry of Commerce and Industry in his capacity (Defendants) |
| Decision in favor of | Public Authority of Industry |
| First Instance court decision | The court ruled in a commercial dispute: to prove the contractual relationship between Agility and the defendants in their capacity for a period of twenty years starting from 1/1/2023 and ending on 31/12/2042 on an area of 941420 sqm in the Doha area subject to contract No. (8/2003) dated 12/8/2003, with the same terms and obligated the defendants in their capacity to pay the expenses and an amount of KD 100 for actual attorney’s fees. |
| Appeal court decision | The court ruled: First: to accept the appeal in form, and second: in the matter, to cancel the appealed judgment and dismiss the case, and obligated the appellant company to pay the expenses for the two levels of litigation. |
| Cassation Court Decision | – |
| Financial Impact | Can’t be assessed at the moment, as the judgment will be appealed, and no judgment has been issued to evict the company from this site. And if the Public Authority for Industry takes eviction procedures based on an administrative decision, this will result in depriving the company of the revenues from this site, and if it files an eviction lawsuit, it is expected the company will continue to record revenues until the eviction ruling is implemented. |
Sincerely,
Investor Relations Department