Reference to the above, and the CMA regulations issued in Nov. 9th 2015, Book#10 regarding”disclosure & transparency on the disclosure of Material Information”, NIC announces that Munshaat Real Estate Projects Co. (K.S.C.P) has settled on March 30th, 2016 a partial cash settlement of the debt amounting to USD 2,250,000.

An amount of equivalent KD 2 Million will be recorded as income for Q1, 2016 financials including the remaining installments that are due this year according to the International Financial Standards