Sale of 13.4% of Gatehouse Capital KSCC to Gatehouse Bank plc.
The company signs a sale agreement on 31 December 2014, to sell 13.4 million shares of its subsidiary, Gatehouse Capital KSCC, (equivalent to 13.4% of the company’s share capital) to Gatehouse Bank plc for approximately KD 2.5 million. This sale...
Signing a Final Debt Settlement Agreement With Kuwait Finance House to Settle the Outstanding Debt Amounting to KD 42.9 Million Owed to Kuwait Finance House and the Signing of Reconciliation Agreement Between the Two parties.
On 12 November 2014, the company signs a final debt settlement agreement with Kuwait Finance House to settle the outstanding debt owed to Kuwait Finance House amounting to KD 42.9 million in exchange for cash payment and the sale of...
Change of the Composition of the Company’s Board of Directors and Election of Chief Executive Officer.
In the board of directors meeting held on 25 September 2014, the board approves the change of the board’s current composition and the election of chief executive officer, as follows: · Mr. Ibrahim Yousef Al-Ghanim – Chairman · Mr. Ayman...
Change of the Company’s Articles of Association to Comply with New Companies Law No. 25 of 2012
In the extraordinary General Assembly meeting held on 24 September 2014, the shareholders approve the change of the Articles of Association and Bylaws of the company to comply with the requirements of the new Companies Law No. 25 of 2012...
Cassation Court Accepts the Company’s Appeal Against the Appeal Court Ruling Against the Company With Regard to the Settlement of Debt Amounting to KD 35.2 Million Owed to Kuwait Finance House
With reference to the Appeal Court ruling against the company on 24 April 2013 ordering it to settle an amount of KD 35.2 million to Kuwait Finance House and the company’s appeal against this ruling, the Cassation Court accepts on...
Full Settlement of Debt Amounting to KD 3.2 Million Owed to Al Ahli United Bank.
The company successfully settles its debt owed to Al Ahli United Bank amounting to KD 3.2 million in exchange for cash payment and the sale of 55 million shares of its investment in Gatehouse Bank plc (equivalent to 0.3% of...
Appeal Court Confirms the First Degree Ruling Against the Company With Regard to the Settlement of Debt Amounting to KD 35.2 Million Owed to Kuwait Finance House, and the Company’s Plan to Appeal Before the Cassation Court.
With reference to the First Degree Court ruling against the company on 13 December 2012 ordering it to settle an amount of KD 35.2 million to Kuwait Finance House and the company’s appeal against this ruling, the Appeal Court confirms...
First Degree Court Rules Against the Company With Regard to the Settlement of Debt Amounting to KD 35.2 Million Owed to Kuwait Finance House, and the Company’s Plan to Appeal.
With reference to the lawsuits filed by Kuwait Finance House against the company, requesting the repayment of total outstanding debt owed to it amounting to KD 43.3 million, on 13 December 2012 the First Degree Court issues a ruling in...
Lawsuits Notice Against the Company by Kuwait Finance House.
The company receives a lawsuit notification letter, filed by its major creditor, Kuwait Finance House, against the company requiring the repayment of the total outstanding debt owed to it amounting to KD 43.3 million. The company’s management is currently working...