Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES
31 December 2012
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.
The average effective interest rate on short term bank deposits was 1% (31 December 2011: 1.4%) per annum.
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) 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 14 June 2012 approved the consolidated financial statements for the year
ended 31 December 2011. They approved not to distribute any dividend for the year ended 31 December 2011 (2010:
Nil).
2012
KD
13,066,745
146,222
178,458
13,391,425
(2,915,796)
10,475,629
(6,209,342)
4,266,287
Cash in hand and at banks
Short term deposits
Cash in portfolios
Bank overdrafts
Restricted bank balances
2011
KD
16,652,549
5,476,413
1,413,770
23,542,732
(2,971,842)
20,570,890
(8,614,418)
11,956,472
Authorised, issued and fully paid
64,931,977
64,931,977
Shares of KD 0.100 each
2012
KD
2011
KD
46
