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ANNUAL REPORT
2015
Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
31 December 2015
15. CASH AND CASH BALANCES
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.
16. SHARE CAPITAL, SHARE PREMIUM, ANNUAL GENERAL ASSEMBLY AND BONUS SHARES
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
(Note 18).
c) Dividend and annual general meeting:
The board of directors have proposed a cash dividend of 7% (2014: 6%) for the year ended 31 December 2015 which is subject
to approval at the annual general meeting.
The annual general meeting of the shareholders held on 8 March 2015, has approved the cash dividend of 6% for the fiscal year
ended 31 December 2014.
d) Board of directors remuneration:
The board of directors’ have proposed directors’ remuneration for the year ended 31 December 2015 amounting to KD 160,000
which is subject to approval by annual general assembly.
The proposed board of director’s remuneration amounting to KD 120,000 for the year ended 31 December 2014 was approved
by the annual general assembly held on 8 March 2015.
2015
KD
11,964,716
8,482
11,973,198
(10,042,215)
1,930,983
Cash in hand and at banks
Cash in portfolios
Restricted bank balances
2014
KD
16,239,794
77,886
16,317,680
)10,146,696(
6,170,984
Authorised, issued and fully paid
68,827,896
68,827,896
688,278,956 Shares of KD 0.100 each
2015
KD
2014
KD
77