IIG Prospectus - London Stock Exchange

More documents

Recommendations

Info

given, and has not withdrawn, his consent to its circulation. The Commission has given, and hasnot withdrawn, its consent under Article 4 of the Control of Borrowing (Jersey) Order 1958 to theissue of the Certificates. It must be distinctly understood that, in giving these consents, neither theregistrar of companies nor the Commission takes any responsibility for the financial soundness ofthe Issuer or for the correctness of any statements made, or opinions expressed, with regard to it.If you are in any doubt about the contents of this Offering Circular you should consult yourstockbroker, bank manager, solicitor, accountant or other financial adviser.It should be remembered that the price of the Certificates and the income from them cango down as well as up.iv
PRESENTATION OF FINANCIAL AND OTHER INFORMATIONPresentation of Financial InformationUnless otherwise indicated, the financial information herein has been derived from theaudited financial statements of <strong>IIG</strong> as of and for the year ended 31 December 2004 (the ‘‘2004Accounts’’), the year ended 31 December 2005 (the ‘‘2005 Accounts’’) and the year ended 31December 2006 (the ‘‘2006 Accounts’’) and from the unaudited published interim reviewedfinancial statements of <strong>IIG</strong> as of and for the three month period ended 31 March 2007 (the‘‘Interim Accounts’’, together with the 2004 Accounts, the 2005 Accounts and 2006 Accounts, the‘‘Financial Statements’’).The Financial Statements have been prepared in accordance with International FinancialReporting Standards (‘‘IFRS’’) as adopted for use by the government of Kuwait (the ‘‘Government’’).Certain Defined Terms and ConventionsCertain figures and percentages included in this Offering Circular have been subject torounding adjustments; accordingly figures shown in the same category presented in different tablesmay vary slightly and figures shown as totals in certain tables may not be an arithmeticaggregation of the figures which precede them.All references in this Offering Circular to ‘‘U.S. dollars’’, ‘‘U.S.$’’ and ‘‘$’’ refer to UnitedStates dollars being the legal currency for the time being of the United States of America and allreferences to ‘‘KD’’ refer to Kuwaiti dinar being the legal currency for the time being of Kuwait.References to a billion are to a thousand million.1
Page 2 and 3: This Offering Circular comprises li
Page 6 and 7: FORWARD LOOKING STATEMENTSSome stat
Page 8 and 9: STRUCTURE DIAGRAM AND CASHFLOWSThe
Page 10 and 11: PartiesIssuerOVERVIEW OF THE OFFERI
Page 12 and 13: On the exercise of the Trustee’s
Page 14 and 15: Periodic DistributionsRedemptionExc
Page 16 and 17: Redemption at the Option ofCertific
Page 18 and 19: Definitive Certificates evidencing
Page 20 and 21: Withholding TaxUse of ProceedsListi
Page 22 and 23: actions which could have a material
Page 24 and 25: The performance of IIG’s investme
Page 26 and 27: the insurance interests within the
Page 28 and 29: Certificateholders will bear the ri
Page 30 and 31: Enforcing foreign arbitration award
Page 32 and 33: 1. Form, Denomination, Title and De
Page 34 and 35: Delegate, the Agents or any of thei
Page 36 and 37: 4.2 Application of Proceeds from Tr
Page 38 and 39: In order to exercise such right, a
Page 40 and 41: as a result of the issue of Shares
Page 42 and 43: of the relevant Certificate and the
Page 44 and 45: (c)(d)(e)(f)(g)Relevant Share Amoun
Page 46 and 47: (k)(l)(m)(n)Liabilities: In exercis
Page 48 and 49: and, in each case, there will be no
Page 50 and 51: (b)Adjustment EventsSubject to Cond
Page 52 and 53: (vi)Where:PdTis the arithmetic aver
Page 54 and 55:
ecome effective immediately before
Page 56 and 57:
eplacement, the Delegate shall be e
Page 58 and 59:
(c)where such withholding or deduct
Page 60 and 61:
(b)mailed to them by first class pr
Page 62 and 63:
21.2 The Issuer has in the Declarat
Page 64 and 65:
‘‘Current Market Price’’ me
Page 66 and 67:
‘‘Late Payment Amount’’ mea
Page 68 and 69:
aggregate Net Proceeds of Sale and
Page 70 and 71:
‘‘Trading Day’’ means, in r
Page 72 and 73:
GLOBAL CERTIFICATEThe Global Certif
Page 74 and 75:
USE OF PROCEEDSThe proceeds of the
Page 76 and 77:
IIG - SELECTED FINANCIAL INFORMATIO
Page 78 and 79:
ecorded principally as net income f
Page 80 and 81:
Finance costsFinance costs comprise
Page 82 and 83:
its net cash used in investing acti
Page 84 and 85:
investments comprised 50 per cent.
Page 86 and 87:
new company, for example Ajal Finan
Page 88 and 89:
IIG also intends in the next few ye
Page 90 and 91:
IIG has entered into a number of cu
Page 92 and 93:
the productivity of oil and gas wel
Page 94 and 95:
CompetitionIIG expects that First K
Page 96 and 97:
indirectly, 70 per cent. of the sha
Page 98 and 99:
* distribution of borrowings, claim
Page 100 and 101:
* Chairman and Managing Director of
Page 102 and 103:
Name Title AgeYear firststarted wit
Page 104 and 105:
SHAREHOLDERSIIG has been a publicly
Page 106 and 107:
Shareholders holding at least 25 pe
Page 108 and 109:
The table below sets forth the repo
Page 110 and 111:
There are no other outstanding secu
Page 112 and 113:
The strengthening of the Kuwait eco
Page 114 and 115:
THE TRUST ASSETSPursuant to the Dec
Page 116 and 117:
in each case, there will be no rest
Page 118 and 119:
with the covenant relating to the L
Page 120 and 121:
‘‘Independent Appraiser’’ m
Page 122 and 123:
‘‘Total Consolidated Contingent
Page 124 and 125:
For these purposes:‘‘Material S
Page 126 and 127:
TAXATIONThe following is a general
Page 128 and 129:
CLEARANCE AND SETTLEMENTThe informa
Page 130 and 131:
SUBSCRIPTION AND SALEBarclays Bank
Page 132 and 133:
exempt offer under sub-paragraph (3
Page 134 and 135:
GENERAL INFORMATION1. Application h
Page 136 and 137:
APPENDIX - FINANCIAL STATEMENTSFina
Page 138 and 139:
International Investment Group Comp
Page 140 and 141:
Page 142 and 143:
Page 144 and 145:
Page 146 and 147:
Page 148 and 149:
Page 150 and 151:
F-15
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167:
Page 168 and 169:
Page 170 and 171:
166Independent Auditior’s ReportF
Page 172 and 173:
188International Investment Group K
Page 174 and 175:
EXHIBIT DINTERNATIONAL INVESTMENT G
Page 176 and 177:
EXHIBIT CINTERNATIONAL INVESTMENT G
Page 178 and 179:
-2-As per the revised IAS 39, unrea
Page 180 and 181:
-4-Gains or losses arising from tra
Page 182 and 183:
-6-n) Treasury sharesTreasury share
Page 184 and 185:
-8-5. Murabaha receivables2005KD200
Page 186 and 187:
-10-Compensation to key management
Page 188 and 189:
-12-During the year, the company ha
Page 190 and 191:
-14-19. Treasury sharesThe Company
Page 192 and 193:
-16-29. Fiduciary assetsThe Company
Page 194 and 195:
-18-iii)Mudaraba receivables and ot
Page 196 and 197:
-20-32. ZakatAccording to State of
Page 198 and 199:
F-63
Page 200 and 201:
F-65
Page 202 and 203:
F-67
Page 204 and 205:
F-69
Page 206 and 207:
F-71
Page 208 and 209:
F-73
Page 210 and 211:
F-75
Page 212 and 213:
F-77
Page 214 and 215:
F-79
Page 216 and 217:
F-81
Page 218 and 219:
F-83
Page 220 and 221:
THE ISSUER AND TRUSTEEIIG Funding L
show all

IIG Prospectus - London Stock Exchange

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?