Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
31 December 2013
14. CASH AND CASH EQUIVALENTS
Restricted bank balances represent escrow accounts restricted for receiving and making payments for specific construction
activity and these may not be available for use within 90 days.
15. SHARE CAPITAL, SHARE PREMIUM, ACCUMULATED LOSSES AND ANNUAL GENERAL MEETING
a) Share capital;
b) Share premium;
Share premium represents the cash received in excess of the par value of the share issued. This is not available for
distribution.
c) Retained earnings/(accumulated losses);
On 14 June 2012, the ordinary Annual General Meeting of the Parent Company’s shareholders approved to extinguish
accumulated losses of KD 58,105,339 as of 31 December 2011 against the share premium.
d) Annual general meeting;
The Annual General Meeting (“AGM”) held 9 June 2013 approved the consolidated financial statements for the year ended
31 December 2012. The General Assembly approved not to distribute any dividends for the year ended 31 December
2012 (2011: Nil).
e) The board of directors’ have proposed directors’ remuneration for the year ended 31 December 2013 amounting KD
85,000 (2012: KD Nil) and that is subject to approval by annual general assembly.
f) The board of directors’ have proposed 6% bonus shares in respect of the year ended 31 December 2013 (2012: nil) and
is subject to approval at the annual general assembly.
2013
KD
17,516,278
-
(70,438)
17,445,840
(2,987,627)
14,458,213
(6,146,856)
8,311,357
Cash in hand and at banks
Short term deposits
Cash in portfolios
Bank overdrafts
Restricted bank balances
2012
KD
13,066,745
146,222
178,458
13,391,425
)2,915,796(
10,475,629
)6,209,342(
4,266,287
Authorised, issued and fully paid
64,931,977
64,931,977
Shares of KD 0.100 each
2013
KD
2012
KD
46
65
