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Alaqaria board recommends FY10 dividend freeze

ALAQARIA ALAQARIA 8.28% 34.00 2.60

Kuwait Stock Exchange (KSE) announces that the board of Kuwait Real Estate Holding (Alaqaria), in its meeting held on Thursday, 31/3/2011, endorsed financial statements for the FY that ended on 31/12/2010, as follows:

1- Current periods:

Item

FY ended 31/12/10

FY ended 31/12/09

Profit  (Loss) (KWD)

(4.173.376)

(9.044.918)

EPS  (LPS) (fils)

(13.53)

 (29.31)

Total current assets

8.796.775

12.732.966

Total assets

61.256.947

65.657.335

Total current liabilities

29.021.104

31.923.403

Total liabilities

34.903.864

38.086.881

Total shareholders’ equity

26.321.112

27.528.319

Revenue and expenses of dealings with related parties totaled KWD 105.587 and KWD 309.671 respectively.

2) Proposed dividend:

The board recommended withholding dividend for FY10. This proposal is subject to the approval of shareholder meeting and competent authorities.

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