Gulfa Mineral Water & Processing Industries debuts on the Dubai Financial Market

The company shares begin trading on Tuesday (April 17, 2007) under the trading symbol 'GULFA' that will appear on the DFM screens, trading systems and publications.

The listing of ordinary shares of Gulfa was finalised and approved by the DFM in collaboration with Emirates Securities and Commodities Authority.

Ownership of the company's shares is allowed to UAE and GCC nationals up to 100 per cent, while foreigners are allowed to own the company's shares at maximum of 49 per cent.

Gulfa Mineral Water and Processing Industries Co. (PLC) was established in Ajman by an Emiri decree number 13 issued by H.H. The Ruler of Ajman on March 28, 1977. The Company started operations on May 24, 1977. The company owns and manages 'Gulfa Mineral Water Plant' in Masfout -Ajman. Its main activities extends to the establishment of plants for the production and bottling of mineral water, juices, soft drinks and food stuff, in addition to marketing the products of such plants.

The company's authorised capital is AED40,000,000, while its paid-up capital is AED25,000,000. The company has issued 25,000,000 shares, with each share valued at a par value AED1.

Essa Kazim, Chairman of DFM, said:

'Gulfa is the 51st company to list its shares on the DFM and the 5th within the 'Consumer Staples' sector. The company will add depth to the Consumer Staples sector as well as to the market. We welcome Gulfa Company and its investors to DFM. This listing reaffirms the market's pole position as we offer unique investment opportunities for a vast spectrum of investor segments.'

On behalf of Saif Hamarein, Chairman, Gulfa, Adnan Borsly, Vice Chairman, Gulfa, thanked Dubai Financial Market for listing Gulfa's shares on the market. 'DFM is a leading stock market and we are extremely pleased with our listing. This decision came in compliance with the company's strategy that aims to achieve sustainable benefits for our shareholders.'