Reference to our previous disclosure dated April 21, 2021, regarding Agility’s investment in Reem Mall project, Agility would like to announce an amendment to the previous facility of KD 144.5 million as convertible debt given to Farwaniya. Property Developments LLC (“Farwaniya”), the company responsible for the development of Reem Mall in Abu Dhabi,
The amendment includes an additional debt of around KD 16 million given to UPAC. The funding is structured as a short-term facility until such time the company executes its capital increase to cover such requirements. The Equity portion of KD 13.4 million will remain as is.
Best Regards,
Investor Relations Team