KUWAIT CITY: Al-Dar National Real Estate Company (ADNC) reported that the company board had met on Monday March 17, 2008 and adopted the annual financial statements of the company for the financial year ending Dec 31, 2007. The company earned a profit of KD 1,397,555 and earnings per share valued at 3.4 Kuwaiti fils for the year ending Dec 31, 2007 as compared to a profit of KD 1,578,483 and earnings per share of 4 Kuwaiti fils for the year ending Dec 31, 2006. The net profit includes unrealized gains of KD 2,354,750 and outstanding total expenses from transactions amounting to KD 174,518.
Kuwait Stock Exchange (KSE) announces that the general assembly meeting of Al-Kout Industrial Projects Company was convened on Monday March 17, 2008 and approved the recommendation of the Board of Administration to distribute cash dividends at 35 percent of the nominal value of shares (35 fils per share) for the financial year ending Dec 31, 2007 to shareholders registered in the records of the company. The Board also elected new members of the Governing Council of the next three years Mr Fahd al-Yacoub Al-Joaan, Mr Bader Musaed Abdullah Al-Sayer, Mr Hamad Abdulaziz Al-Saqer, Mr Othman Al- Zahem and Mr Bader Musaed Bader Al-Saqer.
The company's shares will be trading from Tuesday March 18, 2008.
The Board of Directors of Kuwait and Middle East Financial Investment Company (KMEFIC) had met on Monday March 17, 2008 and endorsed the recommendation of the Board of Administration to distribute cash dividend at 30 percent of the nominal value of shares (30 fils per share) and bonus shares at 10 percent of the paid-up capital (10 shares for every 100 shares) for the financial year ending Dec 31, 2007, to shareholders registered in the records of the company. The company's shares will be traded from Tuesday March 18, 2008.
Kuwait Stock Exchange (KSE) announces that the general assembly meeting of United Real Estate Company (UREC) will be held on Thursday March 27, 2008 at 11 am at the headquarters of the company to discuss the recommendation of the Board for the financial year ending Dec 31, 2007 to distribute bonus shares at 10 percent of the paid-up capital (10 shares for every 100 shares) to shareholders registered company records on the general assembly.
The general assembly meeting of United National Projects Group Company (UPAC) was convened on Monday March 17, 2008 and endorsed the recommendation of the Board of Directors for the distribution of cash dividend at 35 percent of the nominal value of shares (35 fils per share) for the financial year ending Dec 31, 2007 to shareholders registered in the records of the company.
The Board also elected new members of the Governing Council of the next three years Mr Maged Issa Al-Ogail, Mr Zuhair Abdul-Mohsen Al-Zamil, Mr Talal Mohamed Al-Zmami, Mr Faisal Mansour Sarkhoah and Mr Abdul Aziz Motlaq Al-Osaimi. The Company's shares will be issued from Tuesday March 18, 2008.
The general assembly meeting of the Nibras Holding Company will be held on Wednesday, April 2, 2008 at 10.30 am on the recommendation of the Governing Council to change the name of the company to Hits Telecom Company.
The general assembly meeting of Sharjah Cement and Industrial Development Company (SCEM) was convened on Sunday March 16, 2008 approved and endorsed the recommendation of the Board of Administration for the distribution of cash dividend at 50 percent of the nominal value of shares (38 Kuwaiti fils per share) and bonus shares at 7 percent of the paid-up capital (7 shares for every 100 shares) for the financial year ending Dec 31, 2007 to shareholders registered in the records of the company.
The board also re-elected members of the former Governing Council in addition to two new members Mr Ahmad Abdullah Al-Noman, Mr Abdul Aziz Nasser Al-Shamsy, Mr Obaid Rashid Al-Shamsy, Mr Abdul Aziz Ibrahim Al-Faris, Mr Mohammad Abdullah Al-Khyal, Dr Obaid Ahmed Al-Tenaiji, Mr Othman Mohamed Sharif Zaman, Mr Nawaf Abdullah Rifai and Mr Jassim Mohammed Abdullah Al-Khyal.
The company's shares will be issued from Thursday March 27, 2008.
Kuwait Stock Exchange (KSE) announces that the Salbookh Trading Company the capital by 100 peris currently conducting studies necessary to increasecent. According to the company, the Board of Directors have not discussed the issue of increasing the company's capital, the company reported that in the case of any particular news on this issue or any other issue, the company will notify the stock exchange.
Kuwait's Portland Cement Company (PCEM) reported that it had sold all its shares of United Gulf Cement Company Ltd. The shares amounting to 58.33 percent of the shares of United Gulf Cement Company Ltd. The company sold the share for $17,500,000 which resulted in a profit of $3,000,000.
National Cleaning Company (NCC) reported that it was awarded a tender No. 3696 CNN from Kuwait National Petroleum Company based on its lower prices. The tender is for cleaning the refinery at the Abdullah Port for a period of 5 years, and that the total value of tender is KD 3,919,040.
Kuwait Stock Exchange (KSE) announces that the shares of Afaq Educational Company will be included in the parallel market with effect from Wednesday March 19, 2008 as AFAQ.
Kuwait Stock Exchange (KSE) announces that the Aqar Real Estate Investment Company reported has increased its ownership in the Gulf Springs Real Estate Company by 100 percent. The company bought real estate and other partners share amounting to 73 percent of the value of the deal was KD 3,123,000, and the company reported that the company's capital Gulf Springs Real Estate Company is KD 4,000,000. The company is currently developing property owned by people with maritime zone on an area of 1000 square meters at Arabian Gulf Street.
© Arab Times 2008
