Kipco announces fifth annual Shafafiyah Programme

The annual programme - which began in 2004 - provides an opportunity for Kipco's companies to present a business review of 2007 and their 2008 earnings forecasts to shareholders, partners, institutional investors and other members of the financial community.

For the first time, the Shafafiyah Forum programme will include all eight of Kipco's listed companies. Each company will present their 2008 Shafafiyah presentation immediately after their General Assembly meetings.

Announcing the details of this year's Shafafiyah programme, Mr Faisal Al Ayyar, Kipco's Managing Director and Chief Executive, said it provides an excellent opportunity for Kipco's operating companies to present their forecasts much earlier than in previous years:

"We have decided to extend our annual Shafafiyah programme this year, because we want to give the shareholders of all our listed companies the same opportunity to ask direct questions of company management that we have provided for the shareholders of our core companies for the past four years. We recognized that the healthy dialogue we have created between our core companies and stakeholders needed to be extended to all our companies. By giving their Shafafiyah presentation after their General Assembly meeting, our companies are also able to give their 2008 forecasts a few months earlier than in the past. We believe this will be appreciated by shareholders and stakeholders because it gives them the information they need at an appropriate point in the year," he said.

Shareholders and members of Kuwait's business community are invited to attend all Shafafiyah presentations.