NIC has, with a group of its clients; entered in a transaction to purchase an income-generating commercial property in the United Kingdom, currently occupied by a company specialized in the retail industry. The total value of the transaction is 16.9 Million GBP (approx. 6.8 million KD), of which NIC has a share of approx. 2 million GBP (approx. 806 thousand KD), and the NIC clients’ share is 14.9 million GBP (approx. 6 million GBP), noting that the initial expected annual yield of this investment is 9%.
There is no financial impact to date, any further material impact will be disclosed accordingly.