NIG Prospectus - London Stock Exchange

Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:20 pm – mac5 – 3776 Section 10b : 3776 Section 10bQuoted shares with a fair value of KD23,361 thousand (2005: Nil) are secured against bank loans.20 Share capitalFollowing approval at the general assembly held on 14 November 2005, during the year the parentcompany increased the share capital to KD99,566 thousand by the issuance of 248,913,736shares at a nominal value of 100 fils per share and a premium of 500 Fils per share.Following approval of the general assembly held on 24 April 2006, the parent company issued74,674,120 bonus shares amounting to KD7,467 thousand.As of 31 December 2006 the issued and fully paid share capital of the parent company was madeup of 1,070,329,064 shares of 100 Fils each. (2005: 746,741,208 shares).21 Treasury sharesAt 31 December 2006 the group held 59,547,444 (2005 : 18,332,955) of its treasury sharesequivalent to 5.56% (2005 : 2.46%) of the shares issued. The treasury shares are stated at cost,and the market value as at 31 December 2006 amounted to KD75,030 thousand (2005 : KD29,699thousand). Reserves equivalent to the cost of the investment in treasury shares have beenearmarked as non-distributable.22 Staff sharesDuring the year the parent company issued 701,750 shares to its senior management as bonusshares by utilizing its treasury shares. The carrying amount and market value of these sharesissued amounted to KD1,059 thousand and KD997 thousand respectively and the resultant lossof KD62 thousand was debited to the gain on sale of treasury shares reserve account.F-38