• August 9, 2017: The Board of Directors of Mezzan Holding met on Wednesday, August 9, 2017 and approved the financial results of fiscal period ended 30 June 2017.
  • August 2, 2017: Pursuant to the provisions detailed in Paragraph 24 of Article (4-1-1) of Chapter Four of Executive Bylaws Module No. 10 (Disclosure and Transparency) of the Executive Bylaws No. 7 of 2010 regarding the establishment of the Capital Markets Authority and the regulation of transactions; the Capital Market Authority has approved the renewal of the company’s right to purchase or sell not more than 10% of Mezzan Holding listed shares for a period of six months starting on 31/7/2017 the date of approval being granted; such that the purchase price may not exceed available sources of funding in accordance to the Articles of Executive Bylaws No. 7 of 2010 and its amendments.
  • August 1, 2017: Pursuant to the provisions of Chapter 4 of the Disclosure and Transparency Executive bylaws No. (7) of 2010 and its amendments issued by the Capital Markets Authority concerning disclosure of material information, Mezzan Holding announces that the Board of Directors’ will convene to discuss the quarterly financial draft for the fiscal period ended 30 June 2017 on Wednesday, August 9, 2017 at 12.30 pm at the company’s headquarters.
  • June 3, 2017: Pursuant to the provisions of Executive Bylaws Module No. 10 (Disclosure and Transparency) of the Executive Regulations of Law No. 7 of 2010 and its amendments issued by the Capital Markets Authority (No. 72 of 2015) regarding the disclosure of material information and the mechanism of its announcement, and referring to the e-mail received from you regarding the existence of unusual trading on the shares of the company on the stock exchange during the trading session of July 2, 2017. We note that the company does not have any material information to disclose other than what was disclosed previously. There haven’t been any recent developments that would have affected the company or its affairs in the manner in which such irregular trading took place. Accordingly, we reiterate our keenness to comply with all instructions issued by the Capital Market Authority and Boursa Kuwait in this regard.
  • June 11, 2017: Pursuant to the provisions of Executive Bylaws Module No. 10 (Disclosure and Transparency) of the Executive Regulations of Law No. 7 of 2010 and its amendments issued by the Capital Markets Authority (No. 72 of 2015) regarding the disclosure of material information and the mechanism of its announcement, and referring to the e-mail received from you regarding the existence of unusual trading on the shares of the company on the stock exchange during the trading session of June 8, 2017. We note that the company does not have any material information to disclose other than what was disclosed previously. There haven’t been any recent developments that would have affected the company or its affairs in the manner in which such irregular trading took place. Accordingly, we reiterate our keenness to comply with all instructions issued by the Capital Market Authority and Boursa Kuwait in this regard.
  • July 2, 2017: At the request of the Capital Market Authority’s Disclosure Department to clarify the company’s exposure to the Qatari market, we note that Mezzan Holding’ exposure in the State of Qatar is as follows:
    – Qatar Star Services Company Limited Liability Company. The company is engaged in the import, export, marketing and sale of food and food services.
    – Canned Food Distribution Company – Qatar Khazzan – Kuwaiti company branch. The company works in the production and packaging of soft drinks, carbonated water, mineral water and trade in several food goods.
    The total assets of the two companies in the State of Qatar amounted to KD20,984,466 (representing 9.68% of the total assets of Mezzan Holding) as of 31 March 2017.
    The total sales of the above companies amounted to KD4,988,270 (representing 8.67% of the total sales of Mezzan Group) in the first quarter ended 31 March 2017.
    If the current situation continues for a longer period, Mezzan Holding’s sales and profits may be adversely affected by no more than 5% of the total volume of operations and profits of the Group.
  • May 10, 2017: Kindly be informed that the Board of Directors will hold a meeting on Wednesday, May 10, 2017, to approve the financial statements for the financial period ended March 31, 2017.
  • May 4, 2017: Pursuant to the provisions of Chapter 4 of the Disclosure and Transparency Executive bylaws No. (7) of 2010 and its amendments issued by the Capital Market Authority concerning disclosure of material information, kindly be informed that Mezzan Holding announced the date of the Board of Directors meeting to discuss the company’s financial statements for the financial period ended 31 March 2017 on Wednesday, May 10, 2017, at the company’s headquarters at 12:30 p.m.
  • April 16, 2017: With reference to the resolution of the Annual General Meeting Monday, April 10, 2017 on the distribution of cash dividends for the fiscal year ended 31 December 2016, Mezzan Holding would like to announce a cash dividend distribution of 28% of nominal value per share (28 fils per share) at a total value of KD8,717,100 at a rate of 28% of the authorized, issued and fully paid up share capital of the shareholders registered in the shareholders register on the date of the Annual General Meeting.
  • April 10, 2017: Kindly be informed the results of the Annual General Meeting for the fiscal year ended 31 December 2016 and Extraordinary General Meeting of the shareholders of the company held on April 10, 2017. The meeting was chaired by the Vice Chairman of the Board Mr. Mohammed Jassim Al Wazzan. With a quorum representing a total of 259,346,340 shares representing 83.3% of the company’s 311,325,000 shares.
  • March 30, 2017: Kindly be informed that Mezzan Holding has entered an agreement to factor its finances with one of the Islamic banks in Kuwait. The duration of the agreement is one year starting April 1, 2017, until March 31, 2018, and are renewable, the agreement is as follows:
    – A factoring agreement of up to KD19,750,000. The limits will be used to finance the company’s commitments and to repay debts by transferring some of the company’s trade receivables to the Islamic Bank.– Contracts for the supply of products by Mezzan’s subsidiaries with the Islamic Bank amounting to KD19,000,000. The bank will supply these products to cooperative and the Ministry of Health in Kuwait.
    – Factoring agreement of a maximum of KD15,000,000 in general contracts (Tawarruq), Murabaha and final guarantee letters for financing the operations of the company and its subsidiaries.There is no current impact on the company’s financial position but the balances of trade receivables will be reduced by the amount used and its proceeds will be used to repay some of the company’s debts and to finance the company’s operations and general requirements.
  • March 22, 2017: Pursuant to the provisions of Executive Bylaws Module 10 (Disclosure and Transparency) of the Executive Regulations of Law No. 7 of 2010 and its amendments issued by the Capital Markets Authority (No. 72 of 2015) regarding the disclosure of the material information and the mechanism of its announcement, and in response to your letter regarding irregular trading on the shares of the company during the trading session of March 21, 2017. Kindly note that the company does not have any material information to disclose other than what was previously disclosed. There haven’t been any recent developments that would have affected the company or its affairs in the manner in which such irregular trading took place. Accordingly, we reiterate our keenness to comply with all instructions issued by the Capital Market Authority and Boursa Kuwait in this regard.
  • March 22, 2017: Kindly note that Mezzan Holding’s Annual General Meeting and Extraordinary General Meeting will be held on Monday, April 10, 2017, at 10:00 am, at the Public Industry Authority, South Surra, Hall 3 to discuss the agenda.
  • February 2, 2017: Kindly be informed that Mezzan Holding’s Board of Directors will meet on Sunday, February 12, 2017, at 12:30 p.m. to discuss the financial statements for fiscal year ended 31 December 2016.
  • December 13, 2016: Kindly be informed that Mezzan Holding in accordance with approval Law No. 7 of 2010 and its Executive Regulations and its amendments, has received the approval of the Capital Market Authority to buy or sell up to 10% of its shares for a period of six months from the date of granting the approval.
  • December 1, 2016: Pursuant to the provisions of Executive Bylaws Module No. 10 (Disclosure and Transparency) of the Executive Bylaws No. 7 of 2010 and its amendments issued by the Capital Markets Authority (No. 72 of 2015) concerning the disclosure of the essential information and the mechanism of its announcement, and in regards to irregular trading on the company’s stock during the trading session of November 30, 2016. Kindly note that the company does not have any material information to disclose other than what was previously disclosed. There haven’t been any recent developments that would have affected the company or its affairs in the manner in which such irregular trading took place. Accordingly, we reiterate our keenness to comply with all instructions issued by the Capital Market Authority and Boursa Kuwait in this regard.
  • November 10, 2016: Kindly be informed that the Board of Directors of the Mezzan Holding met on Wednesday, November 9, 2016, at 12:30 p.m. and approved the financial statements of the third quarter for the nine months period ended 30 September 2016.
  • November 9, 2016: Kindly be informed that the Board of Directors of Mezzan Holding will meet on Wednesday, November 9, 2016, at 12:30 p.m. to discuss the financial statements for the financial period ended 30 September 2016.
  • November 1, 2016: Kindly be informed that the Board of Directors of Mezzan Holding will meet on Wednesday 9 November 2016 at 12:30 p.m. to discuss the financial statements for the financial period ended 30 September 2016.
  • 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 p.m. 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.