The first meeting took place in the UAE with foreign investors and banks and was followed by a second meeting in Kuwait with local banks and investors.
The purpose of these meetings was to provide an interim update to the Company's banks and investors as the Company is in the process of formulating an independent restructuring plan in conjunction with its advisors. This process is not yet concluded and details of TID's proposed financial restructuring plan were not discussed. The Company's will present its proposed financial restructuring plan on 16 March in Kuwait.
The Investment Dar is committed to working closely with both its banks and investors in an open and constructive dialogue to reach a solution to its current financing requirements.
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The Investment Dar holds investors' meeting
- Kuwait: Tuesday, March 03 - 2009 at 13:08
- PRESS RELEASE
Further to The Investment Dar's notice on the Kuwaiti Stock Exchange on 22 February 2009 of the Company's intention to conduct two meetings with its investors and banks on the 1 and 2 March 2009 respectively, the Company confirms that those meetings have now taken place in conjunction with Creditor Suisse and its advisors.
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Notes and media contacts
For further information:The Investment Dar
Naji A. Soweidan: +965 22324045
Financial Dynamics
Jon Earl: +97339300851
Hugh Barker: +971502487620
Posted by Nadeen El AjouTuesday, March 03 - 2009 at 13:08 UAE local time (GMT+4)
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