Agility Public Warehousing Company, listed on Boursa Kuwait and Dubai stock exchange, announced the ruling issued by the Court of Appeal in favor of the Undersecretary of the Ministry of Finance in his capacity as the Director General of the Customs Administration, and the Director General of the Administration in his capacity, against Global Clearing House Systems, a 60.60% subsidiary of "Agility". 
According to a statement issued to Boursa Kuwait today, Tuesday, the Court of Appeal ruled that the litigation was concluded in regards to the first appeal and ordered the company to pay KWD 10 in expenses. The verdict also included that “Global Clearing House” is required to establish the project development fund, related to the bidding contract, the subject of the legal dispute.
Agility’s affiliate was also ordered to pay the appellant KWD 12.4 million, rejected the motion of appeal and upheld the rest of the appealed judgment. The Company was ordered to pay the expenses and KWD 10 in legal fees.
Agility clarified in the statement that Global will appeal this ruling through the Court of Cassation, provided that this includes a stay of execution until the appeal is resolved, adding that if the stay of execution motion was rejected by the court, the judgment will have a negative impact on the financial statements, as the above mentioned amount shall be paid to the General Administration of Customs.
The Court of First Instance had decided to accept the case in form and reject it in substance, and ordered Global Clearing House Systems to pay its court application fees in addition to KWD 10 in legal fees.
In a separate statement, in response to Boursa Kuwait’s letter, "Agility" revealed that it did not have any developments that positively or negatively impact its share movement, or that may lead to unusual trading activities, adding that it became aware of the verdict issued by the Court of Appeal after trading hours.