Page 18 - Q1-2023-EN

AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
MARCH 31, 2023
(All amounts are in Kuwaiti Dinars)

9. Annual general assembly of the Parent Company
The Annual General Meeting of the Shareholders held on March 16, 2023, has approved the consolidated financial
statements of the Group for the year ended December 31, 2022 and approved the following items:
• Not to distribute cash dividends or bonus shares for the year ended December 31, 2022.
• Not to pay Board of Directors remuneration for the year ended December 31, 2022.
• To offset the entire accumulated loss balance amounted to KD 9,095,362 as at December 31, 2022 against reducing
the balance of the share premium from KD 17,921,560 to KD 8,826,198.

The Annual General Meeting of the Shareholders held on March 17, 2022, has approved the consolidated financial
statements of the Group for the year ended December 31, 2021, and not to distribute cash dividends or bonus shares and
not to pay Board of Directors remuneration for the year ended December 31, 2021.

10. Fair value measurement
The Group measures financial assets such as financial assets at fair value through profit or loss, financial assets at fair
value through other comprehensive income, and non-financial assets such as investment properties at fair value at the
end of the financial peroid.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. The fair value measurement is based on the presumption that
the transaction to sell the asset or transfer the liability takes place either:

• In the principal market for the asset or liability, or
• In the absence of a principal market, in the most advantageous market for the asset or liability.

All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are
categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to
the fair value measurement as a whole is as follows:

Level 1: Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly
or indirectly observable.
Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.

The following table shows an analysis of captions recorded at fair value by level of the fair value hierarchy:

March 31, 2023
Level 1 Level 2 Level 3 Total
Financial assets at FVTPL 23,544 - 5,295 28,839
Financial assets at FVTOCI - 1,212,229 6,508,995 7,721,224
Investment properties (a) - 63,042,862 107,646,696 170,689,558
Total 23,544 64,255,091 114,160,986 178,439,621

December 31, 2022 (Audited)
Level 1 Level 2 Level 3 Total
Financial assets at FVTPL 79,616 - 155,971 235,587
Financial assets at FVTOCI - 1,225,648 7,787,909 9,013,557
Investment properties (a) - 65,432,532 109,349,804 174,782,336
Total 79,616 66,658,180 117,293,684 184,031,480

14