KAMCO shareholders approve draft merger contract with Global

Capital increase in shares allocated to Global shareholders gets nod Oil & gas and acquisition main focus AlYaqout Legal Group partners with Pillsbury Winthrop Shaw Pitman LLP

KUWAIT CITY, Sept 17: KAMCO Investment Company (“KAMCO”), a leading investment company with one of the largest AUMs in the region, announced that its shareholders have approved all matters pertaining to the draft merger contract between KAMCO and Global Investment House (“Global”) during the Extraordinary General Assembly Meeting of the shareholders of KAMCO, subject to the approval of the Capital Markets Authority (“CMA”). As set out in the Amalgamation agreement between KAMCO and Global, KAMCO shall be the merging company and Global the merged.

The shareholders approved the reduction of KAMCO’s issued and KUWAIT CITY, Sept 17: Khalifa Al Yaqout: A global partnership between AlYaqout Legal Group and US law firm Pillsbury Winthrop Shaw Pitman LLP

With the firms main focus areas being oil & gas and acquisition, which serves many business ventures in various sectors.

• AlYaqout Legal Group: This partnership enhances the business environment and promotes legal solutions for companies.

• Pillsbury Winthrop Shaw Pitman LLP is the fifth largest law firm in the United States with offices all over the globe.

• “AlYaqout Legal Group” will be the official representative of the firms customers in Kuwait.

• Mona E. Dajani: The representation of American and international companies from our firm “Pillsbury Winthrop Shaw Pitman LLP” in Kuwait through AlYaqout Legal Group.

Determined to strengthen its part in the business environment and enhance its role in serving investors in the fields of oil & gas and acquisition, AlYaqout Legal Group signed a partnership agreement with Pillsbury Winthrop Shaw Pitman LLP, one of the top 5 law firms in the United States of America. Together the firms will work to resolve outstanding issues in line with global developments and expand the legal base on a local, regional and global scale.

On this occurrence, the chairman of AYLG, attorney Khalifa Hamed Al-Yagout, stated that this partnership represents one of the strategic aims of AYLG, being to enhance its role in the business environment, the many sectors of law, commercial arbitration and paid up share capital from KWD 26.3 million to KWD 23.7 million through utilizing the value of the treasury shares.

All resolutions we agreed upon by KAMCO shareholders including the scheme of amalgamation between KAMCO and Global, as well as the increase of KAMCO’s issued paid up capital by KWD 10.5 million to become KWD 34.2 million, representing Global net assets not owned by KAMCO to be assigned for Global’s shareholders upon waiver of KAMCO’s current shareholders of their preemptive right in such 104.9 million new shares at a swap ratio of 0.75522821 share in KAMCO stock for every share in Global. the resolution of economic and commercial dispute issues inside and outside of Kuwait.

AlYaqout Legal Group will work hand in hand with Pillsbury Winthrop Shaw Pitman LLP, which has a wide range of clients from significant corporations inside and outside of the United States with its offices located in New York, Los Angeles, Miami, Houston, Washington DC, Virginia, San Diego, and San Francisco. In addition to more than 16 offices worldwide including, Beijing, Shanghai, Hong Kong, and Tokyo, which will contribute commendably to providing outstanding legal proficiency to our clients. Vital sectors AlYaqout added in a press statement that vital areas such as the oil & gas and acquisition sector issues have become the most significant disputes facing the business environment inside and outside of Kuwait, its advancement is

Photo during KAMCO EGM

anticipated to contribute significantly to the development and improvement of the Kuwaiti business environment. The universal legal expertise from US and global companies will contribute to resolving many unsettled issues of interest to investors and workers in the Kuwaiti business environment.

AlYaqout stated that this qualitative partnership with a leading law firm will enhance their proficiency, role and performance at AYLG in providing consultations and solving many of the commercial hardships facing companies in the private and public sector. In addition, the problems related to the most important sectors of oil & gas, energy, integration acquisition and arbitration outside of Kuwait is one of the main reasons why the Group has established a partnership with Pillsbury Winthrop Shaw Pitman LLP to provide the best legal expertise through a cooperation of both firms.

AlYaqout also stated that this partnership represents a qualitative leap for the group, as it will enable the group to directly aid its corporate customers and individuals who have any commercial and investment transactions or any legal operations from the United States of America, United Kingdom, China, Japan and other countries where the offices of Pillsbury LLP are located. Practices and specialisms In turn, attorney Mona E. Dajani, partner at Pillsbury Winthrop Shaw Pitman LLP (New York-London) and the Director of International Projects stated that this partnership is a great added value for AYLG in terms of knowledge and specializations. The agreement between Pillsbury Winthrop Shaw Pitman LLP and AYLG is the first partnership of its kind for Pillsbury Winthrop Shaw Pitman LLP being between a Gulf based firm. The aim is to resolve outstanding issues in many controversial matters of interest to investors and workers inside and outside of Kuwait as well as to follow all our legal work with Kuwaiti companies through AlYaqout Legal Group.

Dajani added that the partnership between AlYaqout Legal Group and Pillsbury Winthrop Shaw Pitman LLP will open a widespread scope for AYLG to represent the company’s customers in the State of Kuwait in various fields, ranging from energy , oil and gas and acquisitions. Additionally, AYLG will aid Pillsbury Law in regards to the foundations of Kuwaiti law aimed at arbitration cases, adding that Pillsbury Law has wide-ranging clients from leading US companies in various fields.

Dajani pointed out that the partnership represents a pronounced leap for AlYaqout Legal Group and Pillsbury Winthrop Shaw Pitman LLP, as it will enhance the performance and strengthen both firms in the commercial and legal fields which in return will enhance the Kuwaiti business environment within Kuwait, the United States, London, China and Japan, and various countries where Pillsbury Winthrop Shaw Pitman LLP are branched, especially while Kuwait is expanding and promoting international investment in many sectors including energy and integration. The target of this partnership is to work collectively to obtain the suitable legal output for our clients while simultaneously improving and enhancing the legal performance of both Pillsbury Winthrop Shaw Pitman LLP and AlYaqout Legal Group.