NATIONAL REAL ESTATE COMPANY - K.P.S.C. Date: March 31, 2022
To: Boursa Kuwait Company KSCP
Sub: Disclosure of Material Information regarding the value Reduction of one of the Company's investments
In compliance with the Law No 7 of 2010 and according to Module (10) from the executive regulation regarding the Disclosure and Transparency. Below the disclosure of Material Information Appendix.
Date | March 31, 2022 |
Name of the Listed Company | National Real Estate Company KSCP |
Material Information | National Real Estate Company KSCP would like to report a reduction in the fair value of one of its main investments (Reem Mall Project in Abu Dhabi - UAE) valued by KD 20,224,838 from the valuation of its properties and the fair valuation of the convertible loan. |
Significant Effect of the material information on the financial position of the company | Reduction in the profits valued by 20,224,838 Kuwaiti dinars in the financial year ended on December 31, 2021. |
Regards,
Faisal Jamil Sultan Al Essa The Vice Chairman & CEO
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NREC - National Real Estate Company KSC published this content on 03 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 April 2022 07:03:01 UTC.
