Press Releases

08 February 2009

Press Release on the results of SIIL Board of Directors' Meeting held on 04/02/2009

The Board of Directors (BOD) of Salam International Investment Limited (SIIL) held its Ordinary 60th meeting on Wednesday, 04/02/2009 and passed the following resolutions:

Financial Results for the year 2008:

The Board of Directors approved the consolidated financial statements for the financial year ended on 31/12/2008, and recommended the General Assembly to approve it in its next coming meeting.

The above mentioned financial statements showed a net profit of around QR 153.9 million, representing an increase of around 20% compared to the achieved net profit for the year 2007, which reflects earning per share of QR 1.65.

Announcement of proposed profits' distribution for the year 2008:

Following to the Press Release issued by SIIL on 01/12/2008, The Board confirm its recommendation to the General Assembly to approve profits' distribution of 12.5% of paid up capital for the year 2008 as follows: 6.25% cash dividends and 6.25% bonus shares, i.e. 1 share for every 16 shares owned by shareholders registered as of the date of the General Assembly that approves the BOD recommendation of the mentioned profits' distribution.

It is worth mentioning that the above proposed profits' distribution is just a recommendation and subject to SIIL’s General Assembly approval and Ministry of Business & Trade approval for the bonus shares.
SIIL emphasizes that this should be taken into consideration by both shareholders and interested investors.

Capital increase:

Based on the BOD recommendation to distribute 6.25% Bonus shares, the BOD recommended the General Assembly in its next meeting to approve the paid up capital increase of the company by the amount of the distributed bonus shares.

"Ordinary" and "Extraordinary" General Assembly Invitation:

The BOD reconfirmed the invitation of the General Assembly to convene, Ordinary & Extraordinary meetings on Tuesday 03/03/2009. In case the quorum is not met, second meeting will be held on Tuesday 10/03/2009.
Moreover, the Board approved the Agendas and the BOD report to the General Assembly.


Dr.Adnan Steitieh
Secretary Board of Director

Note:

This text has been translated from its original Arabic
equivalent which remains the official version.