Kuwait October 23, 2010
After the declaration of Gulf Finance House on the reduction of capital 75% and because of irresponsible members of the Governing Council and demand the President of the Governing Council to take the remainder of the assets and real estate-generating liquidity, such as Resort Al Areen, Lost Paradise of Dilmun and these assets are excellent for bank must be preserved and not waived, and taking $ Cash 3 million
This raised the ire of shareholders in Kuwait and they make up the largest percentage of total shareholders and the most heavily traded and the value of the Kuwait Stock Exchange, and I have decided to group of members to form a committee to go not to notices of the Group shareholders affected to go to Bahrain and to contest all the decisions and claim not to address the reduction of capital
Since it is the company in 2009 has increased 100% Capital at 110 fils and Alan stock price reached 34 fils, before the company's request to stop the stock from trading and this is a great harm to the shareholders, old and now the company wants to burn all this amount subscribed by the shareholders and is this a great crime against those who subscribed for information, the company was encouraged by Mr. Faour was sent to Kuwait to request and appeals to shareholders in Kuwait and he would say to Nha offering a golden opportunity in this cheap price!!! After a while Mr. Faour resigned suddenly and was a shock to the shareholders that there is something going on behind the scenes no one knows except the members of the Governing Council, and after underwriting fully started arrow down continuously for a full year, a Vi a downtrend and trading was high and we know from It buys and sells the beneficiary of the sale
And now we know that we are victims and looted our money, our savings and have a reason will constitute a committee to attend the meeting and discussion of members of the Council and the delivery of voice to them that we will not keep silent about our rights and will demand all legal means
And also will write a working paper and discuss the most important conditions
I.
Objection to the item number and one must convert this item for Legal Affairs to assess the value of the Al Areen Resort and the Lost Paradise of Dilmun and must be estimated at their value in the financial institution known and priced depending on the price of the real estate market in Bahrain
And Lahu target Chairman of Mubadala GFH shares in the bank Gulf and suggested to him that takes Resort Al Areen, Paradise of Dilmun, known as the assets well and generate liquidity to the bank if used properly and to suggest it could take $ 3 million cash from the company which is in the foundation you need for liquidity in a dire need.
Secondly,
Objection and not to discuss the fourth item on the idea of reducing the capital four shares convert to one share and including the company a year ago, asked shareholders subscribed at 110 fils was covered fully subscribed almost 100% of this in mind the Council must take into account the rights of shareholders and third parties may be to burn the entire amount of the subscribed and if we tell them we laugh, we have been plundering you and your possessions and this is something that can not be tolerated or accepted by the logic
And the third
Why was the President of the Council declared at the height of the financial crisis in 2008 that the bank is not suffering from loans and the Bank deals with governments and this is something that gives him strength and keeps him from exposure to economic problems, give him the kind of security
Why is the Chairperson of the Governing Council and the Board of Directors a cash grant of 20% and 20% bonus shares in the world was suffering from a liquidity crisis?.??
Fourth, where did you go the bank's funds obtained as a result of the IPO subscribers in Kuwait, Bahrain, total new capital of 450 million dollars and have been well-independence.
Fifthly, how the company sent Mr. Faour the Gulf and was meeting with shareholders in the five-star hotels and the beaches of the IPO, says Nha opportunity will not be repeated and is a golden opportunity to get on the share price of 110 fils and now you want to burn what Aktaatbna it???
V.
Must know who was selling the stock Btdaullac very high before the cessation of the arrow and sure of was selling the stock has information or was leaked him the information and benefited from this information and these are considered a major crime and is worth the benefit to be referred to the investigating judges and should be abolished all trades prior
VI
How many shares of members of the Board of Directors before the IPO and after the cessation of trading for the stock it sold Member Hsathm supplemented by news of reduction of capital?
VII
Is strategic shareholders adult full amount subscribed in the year 2009?
VIII
What is the value of the shares of Al-Janahi, which wants to share it with the financing of the Gulf!! Is this stock by trading a high or a semi-rigid
Why EA does not offer its shares in the auction are bought by large institutions and then are taken to the house of Cache amount of funding and this is more useful to your now 0 need more liquidity than it needs to stagnant shares have no value
IX
Why was the authorized members of the Board of Directors at the date of 24.05.2010, the Bank is working a new strategy and program of action to return to profitability in the year 2011!! A
X.
Why Mr. Ted Pretty CEO on 23/05/2010
He said that the bank will return to profitability soon, Wen rumors game speculators and regulators will confront them Paljhat!!! Have you already saved speculators Will you disclose the names of who was speculating in the stock on a daily basis over three years in Kuwait Stock Exchange, although it is very easy to detect on who was selling it was bought ...
Eleven
On the date of 05.23.2010, Mr. Ted Pretty Executive Chairman, Gulf Finance House will sell real estate projects a task but he refused to name the project and said that it would provide an important aspect of liquidity to the bank!!!! What is this edifice for the project, which sold it this news is true that the goal is to raise the stock and then sell the stock at a high price for small investors??? Is this stock has risen history!!!! It is the beneficiary of this news???
Twelfth
Must be requested no-confidence vote of the members of the Board and Chief Executive Officer and a vote of confidence in them Because they are not the custodians of the interests and rights of shareholders, Because they want to burn the shares of small investors did not care for human affairs and their material status and suffering from recurrent losses and the loss of their savings and the dispersal of some families because of the irresponsible members of the Board of Directors
Thirteenth
There are some shareholders Kuwaitis have been affected because of falling share price and some injury disease and some of them treated at the Center for Hussain Makki Juma of the cancer and some of them sold his property and his house and some of them took the loan to the bank to subscribe with you and sincerity of your words for the benefit of the subscription and return to profitability after the IPO
I personally know someone will mention the shares and, if required, will remember his name and that person I talked to him and he has two million letter of share purchase price is high and this person sold everything he owned and was always optimistic because of your statements or rhetorical and was selling all his possessions to buy and subscribe with you but with the stock did not benefit from all this is something you come to the contrary, you and the members of Congress and by the bullet of mercy Atalegtwa Boukbarakm capital reduction of 75% and was almost shocked him and now he is being treated in France, & pour cancer and treated in the chemical at the center of Hussein Makki Juma.
This person said he was ready to raise the issue on the injury of loss of money and health because of the recklessness and the Bungled Bank's policy and the loss of full rights of shareholders.
Fourteenth
And wonder about the results of the oil funds launched by Gulf Finance House with the house of Abu Dhabi Investment Authority, which headed by Mr. Rashid Al Janahi, CEO of the house of Abu Dhabi Investment Authority and ask it achieved a win and if won how many losses losses
Fifteenth
Is it true that the cost of Al Areen resort hotel is 300 million U.S. dollars
Is it true that the project would cost the city Paradise of Dilmun Water lost U.S. $ 50 million.
And sixteenth
Does the company have the Kuwait Investment Stake in Gulf Finance House, Kuwait Investment Company and whether you have contributed in a subscription last year
If the Kuwaiti company Tforeigt of the arrow when it was this and how it has announced that it will Taatforeig or connote this was through the sale of its shares on the Kuwait Stock Exchange
Seventeenth
Is Mr. Hamad Abdul Aziz Mohammed Alshaya Vice Chairman of the Board still has a rate of 5% and if subscribed in the IPO last year, and if the exit of the arrow when and how to exit it through the sale of its stake in the Kuwait Stock Exchange and the disposal of quantities its price is high, to buy small investors and then ask the burning shares again from small investors by 75% if this was to make sure it is a great crime against small investors who do not have the information.
Eighteenth
Why was the change, Mr. Bader Nasser Al-Subaie is surprising and it is a formal declaration of the Governing Council whether there are justifiable reasons for his resignation
Nineteenth
Where did the money selling its stake in the Bahrain Financial Harbour and the amount of rate of 49.8% to the Company (Emaar - Holding) (reconstruction) and in exchange for $ 134 million! And where the money went? It is Emaar Holding Does it have a relationship in GFH or surprising connection to one of the members of the Board of Directors.
Twenty-
On Thursday 11/2/2010, the completion of a deal for a major contributor to the shares of Gulf Finance House, the number of 6,578,947 shares worth a total of $ 768,881.536 BD. The seller was Shamil Bank of Bahrain and sold the stock at a price of U.S. $ 0.310, which is the amount it bought the company and how much is the percentage of ownership of shares
Will Shamil Bank knew or was leaked him information that the position of the bank that there is a difficult idea to reduce capital by 75% and give it a chance to escape and distance himself from the big loss???
