Mazaya Holding_FS_E_Q1_2021

AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES NOTES TO INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED) MARCH 31, 2021 (All amounts are in Kuwaiti Dinars) 10 Transactions included in the interim condensed consolidated statement of profit or loss: Key management personnel For the three months ended March 31, 2021 2020 Amortization of finance costs related to lease liabilities 47,664 47,664 51,458 a) The amounts recognized for this lease liability montioned above as at March 31, 2021 that compose part of the Groups’ consolidated lease liabilities can be presented as follows: March 31, 2021 March 31, 2020 Lease liability within one year 540,000 540,000 Remaining liability till end of lease term 4,158,000 4,698,000 Total lease liability 4,698,000 5,238,000 Less: Unamortized future finance charge (856,649) (1,053,606) Present value of minimum lease payments 3,841,351 4,184,394 Compensation to key management personnel For the three months ended March 31, 2021 2020 Short term benefits 138,404 132,350 Terminal benefits 14,704 14,142 153,108 146,492 During the period ended March 31, 2021, the Parent Company has recognized an expense amounting to KD Nill (March 31, 2020 - KD 5,652) relating to equity-settled share-based payment transactions to its employees. During the period ended March 31, 2021, some employees exercised their share options with 606,844 shares, and these shares were issued from treasury shares held with the Group aginst setting off the full balance of employees’ share option plan reserve and part of statutory reserve in accordance with Capital Market Authority guidelines.