With reference to the above subject, and the CMA regulations number (هـ.أ.م/ق.ر./إ.م/2012/2) on the disclosure of material information and the announcement mechanism, and our previous disclosures on 9/6/2015 regarding the objection of the court decision submitted from Munshaat Real Estate Projects Co. (K.S.C.P) against National Investments Company case number 1066/2015, which is against the legal case number 953/2014, partial appeal/3, in favor of NIC raised against Munshaat Real Estate Projects Co. (K.S.C.P). The Court obliged Munshaat Real Estate Projects Co. (K.S.C.P) to pay for National Investments Company a sum of USD 22,500,000 plus KD 2,000 as attorney’s fees. The court has reserved the case for the court decision during the session on 25/6/2015.
NIC would like to inform you that the court has refused the objection.
We have mentioned in our earlier disclosure that it is difficult to identify the positive financial impact until the execution procedures are fully implemented. Further, we will disclose once any update occurs.