Tuesday, 2 February 2010

Global Investment House - Restructuring Implementation Update


If you've been following company news in the press and stock market announcements, you've noticed that representatives of GIH have been been resigning from various companies - formerly subsidiaries and affiliates.

This is natural.  The creditors want to ensure proper control over these entities which are now owned by Global Macro Fund.  Or by Mushaa Islamic Real Estate Company.

This is also a sign that the post restructuring GIH is going to be quite a different animal than the old GIH.  Much smaller and not focused on proprietary investments.

Here's one such announcement from the Kuwait Stock Exchange.

[8:16:56]  ِ.استقالة اعضاء من مجلس ادارة الشركة الوطنية ‏الدولية القابضة
يعلن سوق الكويت للأوراق المالية بأن الشركة الوطنية
الدولية القابضة قد افادته بأن مجلس ادارة الشركة وافق
على استقالة الاعضاء الممثلين لشركة بيت الاستثمار
العالمي (جلوبل) في مجلس ادارة الشركة اعتبارا
من 1-2-2010 وهم :‏
السيد / عبدالله خلف ابو حديدة
السيد / احمد محمد خميس
السيدة / منى عبدالعزيز المخيزيم

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