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 | 27 September 2023 |
| Company Name | Agility Public Warehousing Company (K.S.C.P) (“Agility”) |
| Material Information | Agility is pleased to announce that its wholly owned indirect subsidiary Menzies Aviation (Ibérica) S.A. (“Menzies”) has been awarded 7 ground handling licenses by the Spanish Airport Authority (“AENA”). Menzies has been awarded ground handling licenses for Barcelona (BCN), Palma Mallorca (PMI), Malaga (AGP), Alicante (ALC), Gran Canaria (LPA), Tenerife Sur (TFS) and Tenerife Norte (TFN) airports. The seven-year licenses will see Menzies provide full ramp and passenger services at these airports from early 2024 to 2031.
The estimated incremental revenues expected to be generated pursuant to the awarded licenses are estimated between EUR 900 million and EUR 1 billion, which is equivalent to around KD 295 million and KD 327 million over 7 years. |
| Impact of the material information on the financial position of the company | The specific and full financial impact of these awards cannot be assessed at the moment. However, the above-mentioned expected revenues, will be reflected in the company’s financial statements over the duration of the licenses. |
Best Regards,
Investor Relations Team