Agility approves interim in-kind dividends estimated at KD 800 million

• Board approves interim cash dividend distribution of KD 25.5 million (USD 83 million); equivalent to 10 fls per share.

• Agility’s Board has also approved an in-kind dividend distribution estimated at KD 800 million (USD 2.6 billion), representing shares forming 49% of the issued share capital of a subsidiary, Agility Global PLC, which is pursuing a listing on the Abu Dhabi Securities Exchange (ADX).

• Following the distribution, Agility, a listed company on the Kuwait Stock Exchange and Dubai Financial Market, remains the controlling shareholder in Agility Global PLC with a 51% stake.

• "This is a value-creating opportunity for shareholders and the company; crystalizing the value of assets for shareholders and giving the company access to additional capital markets to fund future growth,” said Tarek Sultan, Agility Vice Chairman.

Agility Public Warehousing Company KSCP (Agility) announced that its Board of Directors has approved an interim cash dividend distribution of KD 25.5 million (USD 83 million), equivalent to 10 fls per share. Agility’s Board will meet on March 30 to discuss the full year financial results and dividends.

Shareholders approved paying dividends on an interim basis and listing shares of certain Agility assets on foreign stock exchanges at prior general assembly meetings held on May 30 and June 7, 2023.

Agility’s Board has also approved an in-kind dividend distribution estimated at KD 800 million (USD 2.6 billion), representing shares forming 49% of the issued share capital of a subsidiary, Agility Global PLC, which is pursuing a listing on the Abu Dhabi Securities Exchange (ADX).

Agility Global PLC is a wholly owned subsidiary of Agility that manages certain company operations and assets, notably Menzies Aviation, the company’s investment in Tristar Transport LLC, the operations of Agility Logistics Parks outside Kuwait, and the DSV investment.

Following the distribution, Agility, a listed company on the Kuwait Stock Exchange and Dubai Financial Market, will remain the controlling shareholder in Agility Global PLC with a 51% stake. Agility will continue to consolidate accounts for Agility Global PLC even after listing.