NIG Prospectus - London Stock Exchange

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Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:20 pm – mac5 – 3776 Section 10a : 3776 Section 10aConsolidated statement of cash flows (continued)NoteThree Threemonths monthsended 31 ended 31March March2007 2006(Unaudited) (Unaudited)11111 11111KD ‘000 KD ‘000INVESTING ACTIVITIESPurchase of property, plant and equipment ............................ (973) (1,119)Proceeds from sale of property, plant and equipment............ 383 –Purchase of available for sale investments.............................. (70,550) (36,808)Investment in associated companies ...................................... (5,262) –Proceeds from partial disposal of associate............................ – 914Proceeds on realisation of wakala investments ...................... 4,500 –Proceeds from sale of available for sale investments ............ 37,846 36,504Dividend income received from available for sale investments 629 656Interest income received ........................................................ 4,402 43911111 11111Net cash (used in)/from investing activities ...................... (29,025) 58611111 11111FINANCING ACTIVITIESFinance lease payments.......................................................... (24) (112)Net decrease in long-term borrowings.................................... (465) (15,904)Net increase in short-term borrowings.................................... 51,444 17,742Dividend paid to shareholders of the parent .......................... (24) (89)Finance costs paid .................................................................. (9,400) (5,681)Purchase of treasury shares.................................................... (982) (24,168)Proceed from sales of treasury shares .................................. 12,619 –(Decrease)/increase in minority interest.................................. (11,004) 9,43011111 11111Net cash from/(used in) financing activities ...................... 42,164 (18,782)11111 11111Net increase in cash and cash equivalents ............................ (52,155) 25,920Translation difference .............................................................. 6 511111 11111(52,149) 25,925Cash and cash equivalents at beginning of the period............ 255,972 26,57811111 11111Cash and cash equivalents at end of the period ................ 7 203,823 52,50311111 1111111111 11111The notes set out on pages 8 to 13 form an integral part of this interim consolidated financialinformation.F-7
Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:20 pm – mac5 – 3776 Section 10a : 3776 Section 10aNotes to the interim consolidated financial information31 March 20071 Incorporation and ActivitiesNational Industries Group Holding – SAK (‘the parent company’) was incorporated in 1961 as aKuwaiti shareholding company in accordance with the Commercial Companies Law in the State ofKuwait and in April 2003, its status was transformed to a ‘Holding Company’. The parentcompany’s shares are traded on the Kuwait <strong>Stock</strong> <strong>Exchange</strong>.The main objectives of the parent company are as follows:– Owning stocks and shares in Kuwaiti or non-Kuwaiti shareholding companies and shares inKuwaiti or non-Kuwaiti limited liability companies and participating in the establishment of,lending to and managing of these companies and acting as a guarantor for these companies.– Lending money to companies in which it owns 20% or more of the capital of the borrowingcompany, along with acting as guarantor on behalf of these companies.– Owning industrial equities such as patents, industrial trade marks, royalties, or any otherrelated rights, and franchising them to other companies or using them within or outside theState of Kuwait.– Owning real estate and moveable property to conduct its operations within the limits asstipulated by law.– Employing excess funds available with the company by investing them in investment andreal estate portfolios managed by specialised companies.The address of the parent company’s registered office is PO Box 417, Safat 13005, State of Kuwait.The board of directors of the parent company approved this interim consolidated financialinformation for issue on 1 May 2007.2 Significant accounting policiesBasis of presentationThis interim consolidated financial information of the group has been prepared in accordance withInternational Accounting Standard 34, “Interim Financial Reporting”. The accounting policies usedin the preparation of the interim consolidated financial information are consistent with those usedin the preparation of the annual audited consolidated financial statements for the year ended 31December 2006.Operating results for the period are not necessarily indicative of the results that may be expectedfor the year ending 31 December 2007.The interim consolidated financial information has been presented in Kuwaiti Dinars (KD) which isthe functional currency of the parent company.F-8
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NIG Prospectus - London Stock Exchange

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