Mazaya_FS_E Q4. 20

AL-MAZAYA HOLDING COMPANY - K.S.C. (PUBLIC) AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2020 (All amounts are in Kuwaiti Dinars) 43 In addition, the provisions for lawsuits included in the comparative year ended December 31, 2019 with an amount of AED 5,000,000 (equivalent to KD 414,105) relates to a lawsuit that was raised against a subsidiary of the Group in the United Arab Emirates for a claim of AED 17,277,295 (KD 1,430,923) representing settlements of accounts between the plaintiff and the subsidiary. During the comparative year ended December 31, 2019, a first-degree court decision was issued in the favor of the plaintiff with an amount of AED 5,000,000 (KD 414,105) for which the subsidiary had appealed against it at the Court of Appeal and recognized this amount as a provision on conservative basis until the final decision is made by the court. The case is still under the hearings in front of the Court of Appeal and no verdict has been issued till the reporting date. 23. Basic and diluted loss per share Basic loss per share: The information necessary to calculate basic loss per share based on the weighted average number of shares outstanding during the year is as follows: 2020 2019 Loss for the year attributable to equity holders of the Parent Company (8,476,775) (8,768,587) Number of shares outstanding: Number of issued shares at beginning of the year 688,278,956 688,278,956 Less: Weighted average number of treasury shares (60,146,685) (61,023,216) Weighted average number of shares outstanding 628,132,271 627,255,740 Basic loss per share (Fils) (13.50) (13.98) Diluted loss per share: Diluted loss per share is calculated adjusting the weighted average number of ordinary shares outstanding to assume allotment of all dilutive potential ordinary shares, and to adjust the net loss for the year with the assumed effect of those potential dilutive shares had they been issued. 2020 2019 Loss for the year attributable to equity holders of the Parent Company (8,476,775) (8,768,587) Number of shares outstanding: Weighted average shares adjusted for dilution effect: Weighted average number of shares outstanding used in calculating basic earnings per share 628,132,271 627,255,740 Adjustment for share options 606,843 2,087,000 Weighted average number of shares for diluted earnings per share 628,739,114 629,342,740 Diluted loss per share (Fils) (13.48) (13.93) 24. Related party disclosures The Group has entered into various transactions with related parties, i.e. Major shareholders, Board of directors, executives of the group, key management personnel, associate, entities under common control and other related parties. Prices and terms of payment are approved by the Group's management. Significant related party transactions and balances are as follows: