Reference to our previous disclosure dated August 10, 2021 and earlier related disclosures, regarding Agility’s investment in Reem Mall project, Agility would like to announce an amendment to the previous facility of KD 160.5 million as convertible debt given through UPAC to Al-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 20 million given to UPAC 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.
The amounts will be reflected on the Company’s financials when used
Best Regards,
Investor Relations Team