MENA Capital Holding

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Real Estate Investment: Langham St., UK

21.03.2016

In yet another real estate investment in the UK, MENA Capital announced that it had invested in the purchase of a core freehold residential development property in the West End of London. The property has 19,326 sq.ft of net lettable area and comprises of four buildings, three of which are Grade II listed. The Property has a favorable planning consent in place to re-develop from its existing office use to private residential apartments and a self-contained retail unit, secured with vacant possession. It is intended that the Property will be re-developed and sold over a period of 27 months (2.25 years). with the retail unit being let to a single tenant and sold off individually in the open market. The residential units will be sold off to individual purchasers.

Planning risk is mitigated as the scheme is fully consented for 17 residential units and one retail unit; however, further value can be added through a review of the current planning permission by increasing the number of residential units to 22.

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MENA Capital Holding announces annual profits of KWD 14.4 million and 54.1 fils Earnings per Share.

17.07.2011

The General Assembly of MENA Capital Holding endorsed all the items listed on the Agenda during an Ordinary Session on 17 July 2011. Most importantly, the General Assembly endorsed the Financial Annual Financial Statements for the year ended 31 March 2011 and its Auditors’ Report, the Board of Directors Report and released the Board of Directors’ actions for the said fiscal year.

Hamad Abdullatif Al-Asfour, Chairman & Managing Director of MENA Capital Holding announced during the meeting the Company’s substantial profits covering all losses accumulated during the previous three financial years. The Company reported Net Profits of KWD 14.39 million attributable to shareholders of the parent during the year against a loss of KWD 1.14 million during the corresponding previous year, reversing the negative Earnings per Share (EPS) (3.9 fils negative earnings as of March 31, 2010) to current year positive Earnings per Share of 54.1 fils.

As is typical of any private equity focused investment operations, the Company’s financial performance generated initial accumulated losses of KWD 12.025 million as of 31 March 2010 which were positively reversed when the Company exited one of its investments in Turkey through a subsidiary. As a result, the Company realized significant improvements in Return on Assets (ROA) which is 41.21% at the end of the current year (31 March 2010: -3.38%). The Return on Equity (ROE) too registered a sharp increase to 77.28% from -5.51% at the end of last year. Today, the Company holds a strong liquidity position with no debt on the Holding level. This is reflected in the high liquidity ratios at the end of the current financial year.