Subject: Disclosure of material information regarding a subsidiary of
United Projects for Aviation Services Company KSCP
Pursuant to the provisions of Module ten - Disclosure and Transparency - of the Executive Regulations of Law No. 7 for year 2010 regarding the establishment of the Capital Markets Authority and regulating securities activities and their amendments, United Projects for Aviation Services Company KSCP would like to announce material information related to its subsidiary, in accordance with the attached disclosure form.
ك.د 38,250,000 عوفدملا لاملا سار I 92992 يراجت لجس I تيوكلا 13131 ةافص 27068 ب.ص I [+965] 24727343 ف I [+965] 1833338 - 24349427 - 24331039 ت Tel (+965) 1833338 - 24349427 - 24331037 I Fax (+965) 24727343 I P.O.Box 27068 Safat 13131 Kuwait I C.R.N. 82992 I Paid Capital 38,250,000 K.D www.upac.com.kw
Disclosure and Transparency
Disclosure of Material Information Form
Date
06 June 2023
Name of the Listed Company
United Projects for Aviation Services Company KSCP
United Projects for Aviation Services Company KSCP (the "Company") would
like to report that, one of its subsidiaries (Royal Aviation Kuwait KSCC) has been
notified by a letter issued by the Directorate General of Civil Aviation (DGCA)
requesting the handover of the Sheikh Saad Terminal Building (T3) due to
Material Information
contract term coming to end as of June 27, 2023. The subsidiary is currently in
discussions with the DGCA regarding the possibility of extending the project
contract for an additional period beyond June 27, 2023, and will provide any
relevant updates accordingly.
Significant Effect of the material
In the event that the project is terminated and handed over to the DGCA, the
impact on the Company's consolidated financial statements will be reflected in
information on the financial
the foregone project revenues starting from the handover date, and thus
position of the Company
operating profits are expected to decrease by approximately 100,000 Kuwaiti
dinars annually.
_____________________
Nadia Aki
Vice Chairperson and CEO
ك.د 38,250,000 عوفدملا لاملا سار I 92992 يراجت لجس I تيوكلا 13131 ةافص 27068 ب.ص I [+965] 24727343 ف I [+965] 1833338 - 24349427 - 24331039 ت Tel (+965) 1833338 - 24349427 - 24331037 I Fax (+965) 24727343 I P.O.Box 27068 Safat 13131 Kuwait I C.R.N. 82992 I Paid Capital 38,250,000 K.D www.upac.com.kw
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United Projects for Aviation Services Co. KSCP published this content on 07 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 June 2023 05:03:14 UTC.
United Projects for Aviation Services Co KSCP is a Kuwait-based shareholding company engaged in the investment, construction and management of projects primarily in the airport services and aviation industry. The Company is active, along with its subsidiaries, in two segments: Investments and Rental and other services operations. The Companyâs activities include the provision of airplane ground and cleaning services, supply of water and other airplane supplies, leasing of airplanes, tourism, travel and cargo services. In addition, the Company also invests its surplus funds in investment portfolios managed by specialized institutions. The Company has two subsidiaries: United National For Aviation Services Company WLL and Royal Aviation KSCC (formerly known as Jet Aviation Company KSCC), which are engaged in the provision of management and services related to the aviation industry. The Company is a subsidiary of Kuwait National Airways KSC.
UNITED PROJECTS COMPANY FOR AVIATION SERVICES K.S.C.P. 
