In making your investment decision, you should rely only on the information contained in this Offering Memorandum.
The Group has not, and the Initial Purchaser (as defined herein) has not, authorized any other person to provide you with
different information. If anyone provides you with different or inconsistent information, you should not rely on it. You
should assume that the information appearing in this Offering Memorandum is accurate as at the date on the front cover
of this Offering Memorandum only (or an earlier date as may be indicated in the Offering Memorandum). The Group’s
business, financial condition, results of operations and prospects may have changed since that date. Neither the delivery
of this Offering Memorandum nor any sale made hereunder shall under any circumstances imply that the information
herein is correct as at any date subsequent to the date on the cover of this Offering Memorandum.
Table of contents
Page
Important information about this Offering Memorandum .....................................................................................................i
Forward-looking statements .................................................................................................................................................v
Certain definitions ..............................................................................................................................................................vii
Presentation of financial and other information....................................................................................................................x
Summary...............................................................................................................................................................................1
Summary corporate and financing structure .......................................................................................................................15
The Offering .......................................................................................................................................................................17
Summary historical consolidated financial information .....................................................................................................21
Risk factors .........................................................................................................................................................................27
Use of proceeds...................................................................................................................................................................57
Capitalization......................................................................................................................................................................58
Selected historical consolidated financial information .......................................................................................................59
Management’s discussion and analysis of financial condition and results of operations ...................................................63
Industry overview ...............................................................................................................................................................87
The Group’s business .........................................................................................................................................................99
Management .....................................................................................................................................................................152
Principal shareholders.......................................................................................................................................................155
Certain relationships and related party transactions..........................................................................................................156
Description of other indebtedness.....................................................................................................................................157
Description of Notes .........................................................................................................................................................160
Book-entry, delivery and form..........................................................................................................................................208
Tax considerations ............................................................................................................................................................212
Plan of distribution ...........................................................................................................................................................217
Transfer restrictions ..........................................................................................................................................................219
Legal matters ....................................................................................................................................................................221
Independent auditors.........................................................................................................................................................221
Available information .......................................................................................................................................................222
Certain insolvency law and local law limitations on guarantees ......................................................................................223
Enforceability of judgments..............................................................................................................................................229
Listing and general information........................................................................................................................................232
Glossary of terms ..............................................................................................................................................................G-1
Competent Person’s Report ..............................................................................................................................................R-1
Index to consolidated financial statements ....................................................................................................................... F-1
Kuwait Energy plc is incorporated as a public limited liability company incorporated under the laws of Jersey. The
Group’s registered office is located at Queensway House, Hilgrove Street, St Helier, Jersey JE1 1ES, and its telephone
number at that address is +44 (0)1534 281 837. The Group’s website is located at
The Group’s
website and the information contained on its website is not part of this Offering Memorandum.
