Agility Approves Interim In-Kind Dividends Estimated at KD 800 Million (USD 2.6 Billion) & Cash Dividends of KD 25.5 Million (USD 83 Million)

Shareholders approved the distribution of dividends on an interim basis and the listing of shares of certain Agility assets on foreign exchanges at the previous AGMs held on May 30 and June 7, 2023.

Agility’s Board of Directors also approved the distribution of in-kind dividends estimated at 800 million Kuwaiti dinars (2.6 billion US dollars), representing shares constituting 49% of the issued capital of a subsidiary, Agility Global PLC, which is seeking to be listed on the Abu Dhabi Stock Exchange. Stock Exchange (ADX).

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

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

“Over the past 25 years, Agility has grown to include global and regional companies that are leaders in their sectors. We are proud of the value we have created for our 14,000 shareholders. Since the company was privatized in 1997, shareholder value has increased approximately 20 times. Today’s dividend is an additional step “The listing of Agility Global PLC crystallizes the value of the assets for shareholders and gives the company access to additional capital markets to fund future growth,” said Tariq Sultan, Vice Chairman of Agility. “Agility remains a global company headquartered in Kuwait.” With pride, we will continue to invest and grow locally and globally.

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  • Source of information and images “arabtimesonline”

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