NIG Prospectus - London Stock Exchange

More documents

Recommendations

Info

Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:20 pm – mac5 – 3776 Section 10c : 3776 Section 10c35 Related party transactionsRelated party transactions are entered on terms approved by the group’s management. Significantrelated party transactions and balances included in the consolidated financial statements are asfollows:200511112200411112KD ‘000 KD ‘000Balance sheetDue from associates and joint ventures (see note 17) .............................. 2,285 714Due from Key management personnel ...................................................... 539 175Purchase of raw materials........................................................................ 7,157 6,196Compensation of key management personnel of the groupShort term employee benefits .................................................................... 6,338 3,528End of service benefits .............................................................................. 879 530Cost of share based payments .................................................................. 1,254 –36 Contingent liabilitiesAt 31 December 2005 the group had contingent liabilities in respect of outstanding bankguarantees amounting to KD328 thousand (2004: KD415 thousand).A foreign subsidiary of the group has guaranteed the leasing liability and overdraft of a joint ventureof £1,600 thousand (KD806 thousand) [2004: £1,700 thousand (KD965 thousand)].37 Fiduciary assetsOne of the subsidiaries of the group manages portfolios on behalf of related and third parties, andmaintains securities in fiduciary accounts which are not reflected in the group’s balance sheet.Assets under management at 31 December 2005 amounted to KD7,745 thousand (31 December2004 : Nil) of which assets managed on behalf of related parties amounted to KD1,544 thousand(31 December 2004 : Nil).38 Capital commitmentsAt the balance sheet date the group had commitments for the purchase of investments and theacquisition of property, plant and equipment totalling KD16,966 thousand (2004: KD11,010thousand).39 Fair value of financial instrumentsFair value represents amounts at which an asset could be exchanged or a liability settled on anarm’s length basis. In the opinion of the group’s management, except for certain available for saleinvestments which are carried at cost less impairment for reasons specified in Note 2 to thefinancial statements (under the heading “Estimation uncertainty”) the carrying amounts offinancial assets and liabilities as at 31 December 2005 and 2004 approximate their fair values.40 Comparative amountsCertain comparative amounts have been reclassified in order to conform with the presentation forthe current year primarily on adoption of IAS 1, 32 and 39 (see Note 2). Except as explained in Note2, such reclassifications do not affect previously reported net profit or equity.F-81
Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:21 pm – mac5 – 3776 Section 11 : 3776 Section 11ISSUER AND TRUSTEENIG Sukuk Ltd87 Mary StreetGeorge TownGrand Cayman, KY1-9002Cayman IslandsOBLIGOR, MUDARIB AND NIGNational Industries Group Holding Company S.A.K.P.O. Box 417Safat, 13005, KuwaitAl Jahra Street crossing the Airport RoadAl ShuwaikhKuwuaitDELEGATECiticorp Trustee Company Limited14th Floor, Citigroup CentreCanada SquareCanary WharfLondon E14 5LBUnited KingdomPRINCIPAL PAYING AGENT, CALCULATION AGENT ANDTRANSFER AGENTCitibank N.A., London Branch21st Floor, Citigroup CentreCanada SquareCanary WharfLondon E14 5LBUnited KingdomPAYING AGENT AND REGISTRARCitigroup Global Markets Deutschland AG & Co. KGaAReuterweg 1660323 Frankfurt am MainGermanyAUDITORSTo NIGGrant ThorntonSouq Al-Kabeer buildingBlock A, 9th FloorSafat 130 30Kuwait
Page 1 and 2:
Level: 8 - From: 8 - Thursday, Augu
Page 3 and 4:
Page 5:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19:
Page 22:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 52 and 53:
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133: Level: 8 - From: 8 - Thursday, Augu
show all

NIG Prospectus - London Stock Exchange

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?