Agility would like to announce that the United States Court of Federal Claims entered judgment in favor of Agility Defense & Government Services, LLC. (“DGS”) and against the United States Government’s Defense Reutilization and Marketing Service (“DRMS”) – which is part of the U.S. Defense Logistics Agency which, in turn, is a constituent agency of the U.S. Department of Defense.
The judgment is in relation to claims by DGS that arose out of a November 2007 contract between DGS and DRMS. The amount of the judgment is US$6,906,339.20 (around KD 2 million) plus interest, which has been calculated to be US$870,828.22 (around KD 260 thousand) in October 2017 and will continue to accrue until the judgment is satisfied. The U.S. Government has the right to appeal the judgment by December 18, 2017. We are currently unaware of whether such an appeal will be taken, but we will continue to provide additional updates as the matter proceeds.
Sincerely,
Investor Relations Department
Agility Public Warehousing Company