Restructuring Update

06 December 2011

The Investment Dar Co. K.S.C.C.

("The Investment Dar", "TID" or "the Company") Restructuring Update 6 December 2011, Kuwait City – The Investment Dar K.S.C.C., in line with its ongoing commitment to international best practice and transparency in the implementation of its restructuring plan has today held an all investor meeting in Dubai.

At the meeting, the Company provided investors with updates on: the performance and prospects of its assets, the Company’s financial position, corporate governance developments as a result of management changes earlier in the year, progress relating to a trading platform for the Company’s debt and outstanding issues relating to Shariah compliance and litigation.

TID’s business activity is centred on maximizing the value of its assets, meeting the repayment schedule given in the plan and maintaining value for TID's shareholders in the longer term. The Company remains committed to ongoing communication with its investors in order to develop an understanding amongst investors of the evolution of its strategy and financial position.

Adnan Al Musallam, Chairman of Investment Dar, said, “While the Company has made significant steps forward in terms of the effective implementation of its restructuring plan, considerable challenges lie ahead. The Company will continue to explore means through which to maximise the value of its assets and to obtaining the best possible outcome for its stakeholders.”

For further information: 

The Investment Dar
Naji A. Soweidan +965 22324045

FTI Consulting 
Hugh Barker +971 502487620