Wafrah Investment Company will hold an auction to sell 10,925,326 shares in “AB Holding” Company, at an initial price of 97 fils per share, for an aggregate amount of KWD 1,059,757, on Tuesday, 11 October 2022 at its headquarters in Al-Mirgab, Al-Sour Street, Twin Tower, Tower A, 11th Floor, from 12:00 p.m. to 12:300 p.m.

AB Holding Company is a closed Kuwaiti Shareholding Company (formerly: Al-Themar International Holding) K.S.C. (Closed) registered on October 27, 1999, with KWD 7,754,890 in capital distributed over 77,548,900 shares at 100 fils per share, fully paid in cash. The Company's main activities revolve around managing its subsidiaries or participating in the management of other companies it contributes to, providing the necessary support, in addition to investing its money in trading in shares, bonds and other securities.

The company clarified the auction’s terms, as follows: the auction starts at a share initial price of 97 fils. Anyone interested in the bidding is required to sign an agreement to participate in the public auction, as well as to submit an unconditional bank guarantee or a certified cheque issued by a local bank to fully cover the value of the shares in order to ensure that the offered price covers the purchased shares. Another condition is that in the event that the auction takes place, and the shares were awarded to the applicant at a value higher than the initial sale price, the full amount of the sale must be fully paid within a maximum of five (5) business days from the date of the auction. Interested bidders who may like to review the company’s information and obtain the terms of the bid must sign a confidentiality agreement and pay KWD 500. Paying that amount is considered an acknowledgment that the applicant is fully aware of all the information and data related to the sale process and that he shall bear all related expenses to transfer the ownership of the shares, in relation to the brokerage firms the stock exchange, and any other official entity. The winning bid shall abide by the procedures related to special deals in accordance with the rules of trading unlisted securities as stipulated by Boursa Kuwait Company. The company noted that, in publishing this announcement, it is under no obligation to award the auction or sign a contract with the bidder, and that it reserves its rights, at any time before signing the final contract with the winning bidder, to postpone, amend or cancel the bid without justification and without any liabilities. The company shall not, in any case, bear the expenses of any bidder participating in this auction, especially those costs related to issuing guarantees.