| Date: |
16/12/2025 |
| Name of listed company |
Al Mazaya Holding Co. K.S.C.P |
Automated Lawsuit number
Lawsuit Number |
252495170
155/2025 Commercial Civil Overall Government /23 |
| Subject of the Lawsuit |
A lawsuit for appointing an expert includes the following:
First: An urgent request to halt the merger by amalgamation between Al Mazaya Holding Company and First Dubai Real Estate Development Company, subject of the disclosure of the results of the Extraordinary General Assembly dated 24/12/2023, until a final binding judgment is issued in the lawsuit.
Second: Appointing a tripartite committee of specialized experts to review the Lawsuit documents, examine the elements and details of the lawsuit.
Third: A ruling to nullify the minutes of the Extraordinary General Assembly meeting of First Dubai Real Estate Development Company, which includes approval of the merger by amalgamation with Al Mazaya Holding Company, along with the resulting consequences.
In all cases, a ruling to obligate the first and second defendants to pay the expenses and actual attorney fees, with the judgment being enforceable immediately. |
| The Court Judgement / Verdict date Court circuit |
16/12/2025 |
| The name of the Court that issued the Judgement / Verdict |
Court of First Instance |
| Parties of the Lawsuit |
Twelve shareholders of First Dubai Real Estate Development Co. "the merged company" (Plaintiffs)
vs
First Dubai Real Estate Development "the merged company" (First Defendant), Al Mazaya Holding Company K.S.C.P. "the merging company" (Second Defendant), and others (Defendants) |
| The Judgment / Verdict in favor of |
The Defendants |
| Court of First Instance Judgment / Verdict |
The lawsuit is considered as if it had never been filed |
| Court of Appeal Judgment / Verdict |
No court verdict has been issued |
| Court of Cassation Judgment / Verdict |
No court verdict has been issued |
| The expected financial impact on the company as a result of the Judgment / Verdict |
There is no impact on the company as a result of the judgment, as the court ruled to consider the case as if it had never been filed due to the plaintiffs’ failure to serve notice. |