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PRINCIPAL SHAREHOLDERS
As at 7 June 2014 (being the last practicable date prior to the publication of this document), in so far as it is known to the
Issuer, the name of each person, other than a Director, who holds voting rights representing 3% or more of the total
voting rights in respect of the Issuer’s existing share capital, and the amount of such person’s holding, is as follows:
Name
No. and class of existing
shares
Percentage of
existing share capital
Global Investment House
40,019,873
12.19%
Aref Energy Holding K.S.C.C
40,500,004
12.32%
Zahra Group
(1)
39,689,859
12.07%
KEC Kuwait
(2)
31,750,000
9.66%
Blue Ridge Investment Company
23,737,502
7.22%
International Finance Corporation
23,209,955
7.06%
Equity Group Investments
22,398,288
6.81%
Van Eck
11,905,072
3.62%
Altima
11,680,727
3.55%
(1)
Dr. Manssour Aboukhamseen, Chairman of the Issuer, has a 40% shareholding in Zahra Group.
(2)
Following the Offering, the Issuer intends to repurchase these shares and eliminate the cross-holding.
In addition, both Abraaj and QFB will receive Ordinary Shares upon conversion of the Convertible Loans. See
“
Description of other indebtedness—Convertible Loans
.” Following the occurrence of a qualifying IPO, terms of the
conversion provide for automatic conversion into ordinary shares on the 30th dealing day following listing, subject to the
right of the holder to convert on an earlier date.
Dr. Manssour Aboukhamseen, Sara Akbar, Roger Phillips, Dr. Yousef Al Awadi and Mohamed Yusof Rafie hold shares
of the Issuer and of KEC Kuwait. The shares of KEC Kuwait will be exchanged for shares of the Issuer pursuant to the
KEC Kuwait Restructuring. See “
The Group’s business—Corporate structure
.” Dr. Manssour Aboukhamseen and Sara
Akbar are both on the board of directors of KEC Kuwait. Dr. Manssour Aboukhamseen holds a 40% shareholding in
Zahra Group Holding Company but is not a member of the executive management team of that entity. Save as disclosed
in this paragraph, none of the Directors has any potential conflicts of interest between their duties to the Issuer and their
private interests and/or their duties to third parties.
Except as disclosed in “
Principal shareholders
”, the Group is not aware of any person who, directly or indirectly, has an
interest as beneficial owner in its ordinary shares which represents 3.0% or more of the Group’s issued and outstanding
ordinary shares. The Group’s principal shareholders have the same voting rights.
