In a disclosure issued to Boursa Kuwait, Kuwait Hotels Company announced that Al-Masar Leasing and Investment Company, the manager of the acquisition process with Petrobrit Kuwait General Trading and Contracting Company and its affiliated parties, obtained the Capital Markets Authority’s approval on 22 September 2022 to publish the mandatory acquisition offer submitted by “Petrobrit” and its affiliated parties to acquire all the remaining shares of Kuwait Hotels Company for an offer price of KWD 0.180 (180 fils) per share.

The share collection period will start from 6 October 2022 to 7 November 2022. Al-Masar noted that the mandatory acquisition offer document, schedule, and all related files were available for viewing and shall be published on the following websites:

- Boursa Kuwait website www.boursakuwait.com.kw - The potentially acquired company’s website www.khc.com.kw

- Al-Masar Leasing and Investment Company (Acquisition Manager) www.masarinvest.com. As for the location where shareholders should be directed, Al-Masar explained that they should visit Kuwait Clearing Company (KCC), and if there were any inquiries regarding the acquisition offer, the company directed investors to contact Al-Masar Leasing and Investment Company to provide the required information.