loading

With reference to the above mentioned subject, and the CMA regulation issued on November 9, 2015, book number ten”disclosure and transparency” on the disclosure of material information. With regards to NIC’s disclosure dated 5 October 2016 regarding the material information, NIC hereby announces that they have officially submitted paperwork on behalf of their client Adeptio investments limited- buyer, and Al khair for stocks and real estate, seller who have previously authorized NIC to execute all necessary procedures required to buy and sell a percentage exceeding 5% of total shares from Kuwait Food Company”Americana, whereby the total executed number of shares is 268,496,544 shares directly and indirectly held at the price of KD 2.650 per share and that is in accordance with the regulations of CMA and Kuwait stock exchange (Kuwait Boursa company) in that regard. The execution will take place through a registered Kuwaiti brokerage company which is a subsidiary of NIC (Al Seef Brokerage Co.) whose ownership in that company is 48%. The total expected brokerage fees, should the deal materialize, is around KD 1.4 million. And we cannot determine the net profit on NIC financials till date, noting that it will be reflected on 31/12/2016 financials.

myNIC