Kuwait City - 6 December 2009: The Investment Dar Co. K.S.C.C. ("TID") and The Coordinating Committee of TID's banks and investors and Investment Dar Bank - Bahrain investors ("Coordinating Committee") presented a comprehensive restructuring plan to reschedule and restructure TID's financial arrangements with its wider bank and investor group in Kuwait and Dubai on November 24 and 25th respectively.
The proposed restructuring plan follows a period of due diligence conducted by the Coordinating Committee and its advisors in close cooperation with TID and constructive discussions on the proposed restructuring plan between the parties, ensuring that amicable solution to all parties is met equally.
All banks and investors are invited to review the proposed restructuring plan and provide their support prior to December 23, 2009.
Adnan Al Musallam, Chairman and Chief Operating Officer commented: "We would like to thank all our banks and investors, particularly the Coordinating Committee, for their patience, co-operation and commitment they have demonstrated. The impact of the global financial crisis is still being felt across the region and it is important that TID and its banks and investors work together to conclude the proposed restructuring as quickly as possible. TID is firmly committed to the process."
-Ends-
For further information:
The Investment Dar
Naji A. Soweidan
Tel: +965 22324045
Financial Dynamics
Jon Earl
Tel: +973 39300851
Hugh Barker
Tel: +971 502487620
© Press Release 2009
