REG - Kuwait Projects Co - Disclosure for transaction with related party

Kian ShenAnnouncement

14/12/2023 14:00

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RNS Number : 8722W  Kuwait Projects Company Sukuk Ltd  14 December 2023

 

Kuwait Projects Company Sukuk Limited

 

Disclosure regarding a transaction with a related party

 

Kuwait Projects Company (Holding) K.S.C.P. (KIPCO), the Obligor of Kuwait
Projects Company Sukuk Limited, announced that it has signed a SPA agreement
with a subsidiary, the National Petroleum Services Company K.S.C.P. "Napesco"
(KIPCO Group Subsidiary with an ownership of 60.53%) in order to sell its full
equity stake totaling 52.92% of the issued and paid-up capital of its
subsidiary United Petroleum Projects Company K.S.C.C for a total consideration
of KD 15,029,920.

There is no material financial impact on KIPCO's consolidated financial
statements, as the sale and purchase transaction took place between the parent
and a subsidiary, and the impact will be eliminated on consolidation.

 

For further information, please contact:

Investors, Press and Media:

Eman Al-Awadhi

49(th) Floor

KIPCO Tower, Khaled Bin Al-Waleed St, Sharq

P.O. Box 23982

Safat 13100

Kuwait

Tel: +965 2294 3416

Email: eman.alawadhi@kipco.com

 

 

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