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About Kuwait Energy

In August 2011, Kuwait Energy reorganized its corporate group structure, while preserving its Kuwaiti identity by:

  • Reducing the number of shares in Kuwait Energy Company KSCC (“KEC”), from 1,270 million shares to 317 million shares, a reduction to 25% of original shares.
  • Issuing new shares in a newly-established company called “Kuwait Energy plc (“Kuwait Energy”), which is based in Jersey, to KEC in return for the transfer by KEC to Kuwait Energy of all the assets and liabilities previously held by KEC.
  • Post reorganization, 90% of the shares in Kuwait Energy were transferred to KEC shareholders on prorate basis, with the remaining 10% being held by KEC. The total value of the shares in Kuwait Energy did not change as a result of this transfer.

After this reorganization of the corporate group structure then, each KEC shareholder held 25 KEC and 225 Kuwait Energy shares

The reorganization of the corporate group structure is illustrated in the diagram below: