• August 24, 2016: Mezzan Holding CFO Mr. Stephen Carty has resigned from his post to be closer to his family in the United States. Mr. Carty’s resignation is effective as of September 30, 2016.  The company appointed Mr. Fares Hammami to take on the position of CFO. Hammami, who joins the company following a 13-year track record in investment banking, capital markets and mergers and acquisitions, spent the last 10 years of which with NBK Capital, the investment banking arm of National Bank of Kuwait. Hammami’s last post at NBK Capital was Director in the firm’s Investment Banking division. Hammami is a seasoned investment banker and finance professional. He has advised companies in Kuwait and the neighboring region on various investment banking, equity and debt capital market transactions exceeding US$11bn. Hammami is a graduate of McGill University where he majored in Finance, and is a Chartered Financial Analyst and has previously serviced as Board Member of the CFA Institute’s Kuwait Chapter.
  • August 24, 2016: In reference to Mezzan Holding’s announcement on 20/6/2016 regarding its intent to establish a joint venture (JV) with Saudi Arabia’s Al Faisaliah Group in the Saudi food manufacturing and distribution sector, please be informed that Mezzan Holding, through one of its subsidiaries, had acquired 70% stake of Saudi Arabia based Al Safi Food Company from a subsidiary owned Al Faisaliah Group. The cost of the acquisition is SAR90.75 million (KD7.3 million). Al Faisaliah Group will retain the remaining 30% stake. The acquisition will enable Mezzan Holding to expand its services and products in the food production and distribution sector to Saudi Arabia. It will also award it the exclusive rights to continue to manufacture, market and distribute Al Safi Food Company’s bakery and snacks, as well as, the rights to use over 70,000 sqm of land that Al Safi Food Company has on a long-term lease. Mezzan Holding acquired the stake through a KD7.3 million capital injection.  The capital injection will cover Al Safi’s financial requirements, projected to be KD2.5 million, until the end of 2017, which is when Al Safi Foods Company is expected to generate profit. The capital injection also covers capital expenditures leading up to end of 2017 and are to be deployed to building new food manufacturing facilities in Saudi Arabia.
  • June 20, 2016: Mezzan Holding is in talks with Saudi Arabia’s Al Faisaliah Group for the establishment of a joint venture (JV) in the Saudi food manufacturing and distribution sector. Under the terms of the JV agreement, Mezzan Holding will acquire a 70% stake through a capital increase in food and beverage manufacturing and distribution entity, Al Safi Food Company, currently owned by Al Faisaliah, which will retain the remaining 30% stake. The transaction is expected to close in six to eight weeks and is subject to satisfying certain precedent conditions and obtaining regulatory approvals from government authorities in Saudi Arabia. Mezzan Holding’s investment in the JV is expected to be between KD7 million and KD7.7 million. The joint venture will enable Mezzan Holding to manufacture, market and distribute food products in the Kingdom of Saudi Arabia, and awards it exclusive rights to continue to manufacture, market and distribute Al Faisaliah Group’s bakery and snacks product lines, as well as the exclusive rights to import, manufacture, sell and distribute all Mezzan Holding brands. The company will be headquartered in Riyadh, the capital of the Kingdom of Saudi Arabia.
  • April 21, 2016: Mezzan Holding announces dividend distribution. Mezzan Holding announces that as of April 21, 2016, the Kuwait Clearing Company (KCC) will commence the distribution of cash dividends of 27.5% of the nominal share value, equivalent to 27.5 fils per share, to shareholders as at the date of the Annual General Meeting held on April 13, 2016.
  • April 17, 2016: Mezzan Holding announces new Chairman of the Board. Mezzan Holding announces that Abdel Rahman Jassim Mohammad Al Wazzan has been elected as the new Chairman of the Board of Directors.
  • February 15, 2016: Mezzan Holding reports 2015 financials. Mezzan Holding announces full year revenue increased to KD196.1 million, representing a 7.5% increase on the same period in 2014 and net profit increased by 31.8% for the year to KD19.4 million.
  • February 15, 2016: Mezzan Holding announces the resignation of the Chairman of the Board of Directors. Mezzan Holding announces the resignation of Chairman of the Board of Directors, Khaled Jassim Mohammad Al Wazzan, for health reasons. Motasem Jassim Al Wazzan will serve as interim Chairman until the appointment of a new member and a successor by shareholders at the upcoming AGM.
  • February 9, 2016: Mezzan Holding announces the date of its Board of Directors’ meeting:  Mezzan Holding announces that the Board of Directors will meet on February 15, 2016 at 12:30 pm to discuss the financial earnings for FY2015.
  • August 23, 2015: Mezzan Holding’s voluntary statement in response to unusual trading activity on August 20, 2015:  Mezzan Holding confirms that it is not currently withholding any material information, or information that could have potentially influenced the extraordinary trading activity on its stock on August 20, 2015. All financial and commercial material information, and earnings reports to date have been disclosed to regulators and shareholders in a timely manner.
  • August 10, 2015: Mezzan Holding’s voluntary statement in response to unusual trading activity on August 9, 2015:  Mezzan Holding confirms that it is not currently withholding any material information, or information that could have potentially influenced the extraordinary trading activity on its stock on August 9, 2015. All financial and commercial material information, and earnings reports to date have been disclosed to regulators and shareholders in a timely manner.
  • August 9, 2015: Mezzan Holding announces change in management: Mezzan Holding announces that it has received and accepted the resignation of Chief Financial Officer (CFO), Mr. Munaf Yusuf, for personal reasons as of September 30, 2015. The Company has appointed Mr. Stephen Carty to take on the position of CFO.
  • July 22, 2015: Mezzan Holding’s voluntary statement in response to unusual trading activity on July 22, 2015:  Mezzan Holding confirms that it is not currently withholding any material information, or information that could have potentially influenced the extraordinary trading activity on its stock on July 22, 2015. All financial and commercial material information, and earnings reports to date have been disclosed to regulators and shareholders in a timely manner.
  • July 12, 2015: Mezzan Holding’s statement in response to a request from the Capital Market Authority to explain unusual trading activity on the stock on July 8, 2015:  Mezzan Holding confirms that it is not currently withholding any material information, or information that could have potentially influenced the extraordinary trading activity on its stock on July 8, 2015. All financial and commercial material information, and earnings reports to date have been disclosed to regulators and shareholders in a timely manner.
  • June 28, 2015: Mezzan Holding’s statement in response to a request from the Capital Market Authority to explain unusual trading activity on the stock on June 24, 2015: Mezzan Holding confirms that it is not currently withholding any material information, or information that could have potentially influenced the extraordinary trading activity on its stock on June 24, 2015. All financial and commercial material information, and earnings reports to date have been disclosed to regulators and shareholders in a timely manner.
  • June 15, 2015: Mezzan Holding awarded KD3.3 million insurance settlement. Mezzan Holding KSC today disclosed that it received an insurance settlement of KD3.3 million in compensation for the damages in a refinery owned by its subsidiary Kuwait Lube Oil Company KSC (KLOC). The refinery had a fire accident in 2012. As a result of the settlement, KLOC’s refinery assets have been impaired by KD1.1 million. The settlement will be reflected in Mezzan Holding’s Q2 2015 financial statements with a net positive impact of KD2.2 million.