UPDATE 1-Agility 2009 results delayed

* To delay results until April 6

* Seeking clarity on negotiations with U.S. authorities

(Adds details, background, share trading)

KUWAIT, March 31 (BestGrowthStock) – Logistics firm Agility
(AGLT.KW: ) will delay the release of its financial results until
April 6 pending clarity on its negotiations with U.S.
authorities over fraud charges, the company said on Wednesday.

The company’s shares slumped 6.8 percent in early trading on
the Kuwaiti bourse before recovering.

Agility, formerly Public Warehousing Co K.S.C., is in talks
to resolve an indictment accusing it of overcharging the U.S.
Army by $60 million on supply contracts in Iraq, Kuwait and
Jordan.

“The board has decided to suspend the release of its
financial results for the year ended Dec. 31 2009 to allow the
company to determine whether or not a settlement will be reached
with regard to the dispute with the U.S. government,” Agility
said in a statement to the bourse.

The company said in a statement the results would be
released April 6. Agility said trading in its stock would be
halted from April 1 to April 6.

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(Reporting by Diana Elias; Editing by Rupert Winchester)

UPDATE 1-Agility 2009 results delayed