Reference to the news published in a local newspaper on 8/7/2020, announcing that the contractual relationship between the Public Authority for Industry and Agility in respect of the fifth phase in South Amghara with the dedicated area of 427,164 sqm has ended on 4/7/2020 and that the Authority doesn’t intend to renew this agreement.
The Company asserts that the judgment issued in case No. 4559 of 2011, Commercial. Civil, Governmental/5, upheld in appeals No. 224, 299, 428, 433 of 2015, Commercial/ 7, and further confirmed by the ruling of the Court of Cassation in its ruling No. 1077 of 2016 Commercial / 1 dated 14/3/2017, so the now final judgment confirmed the existence of a contractual relationship in the form of a rent agreement applicable to the contracts referred to in the judgement which correspondingly applies to the fifth phase of South Amghara with an area of 427,164 m2.
The Company, upon reviewing the judgment and contracts referred to therein, it is clear that the contract for the fifth phase of the Amghara Scrap site with an area of 427,164 m2 has not expired. Agility has sent to the Public Authority for Industry notification No. (A / 39/2020) dated 23/03/2020 in response to the Authority’s letter No. (2/600/2020) dated 11/03/2020 stating that the term of use by the Company in the fifth stage did not expire, and it is valid based on the above rulings that specified the beginning date of the contract without any reference to the end date.
Investor Relations Team