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A'ayan Real Estate board proposes 5% bonus shares for FY10

AAYANRE AAYANRE -4.72% 74.70 -3.70

Kuwait Stock Exchange (KSE) announces that the board of A'ayan Real Estate Co., in a meeting held yesterday, Wednesday, 23/03/2011, endorsed the financial statements for the fiscal year that ended on 31/12/2010 as follows:

1) Financial results:

Item

FY ended 31/12/2010

FY ended 31/12/2009

Profit (KWD)

1,857,945

3,089,435

EPS (fils)

5

8

Total current assets

91,327,229

78,776,072

Total assets

138,560,147

134,061,818

Total current liabilities

62,101,936

59,395,746

Total liabilities

66,949,128

65,419,979

Total shareholders’ equity

70,263,369

68,641,839

Total revenue and expenses of dealings with related parties reached KWD 692,726 and KWD 298,385 respectively.

2) Proposed dividend:

The board recommended distributing bonus shares for FY10 at 5% of paid-in capital, or 5-for-100, to shareholders of record on the general meeting date. The proposal is pending the approval of shareholder meeting and competent authorities.


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