Reference to our previous disclosure dated February 11, 2018, regarding Agility’s Direct and Indirect Investment in Farwaniya Property Developments LLC (“Farwaniya”), the company responsible for the development of Reem Mall in Abu Dhabi, Agility would like to announce an amendment to the previous facility of KD 118.5 million as convertible debt given to Farwaniya.
The amendment includes an additional debt of around KD 26 million given to UPAC. The funding is structured as short-term facilities 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.
Impact of the material information on the financial position of the company: The amounts will be reflected on the Company’s financials when used.
Investor Relations Team