KUWAIT CITY, June 28: Kuwait Stock Exchange announces that the Board of Directors of Grand Real Estate Projects Company (Grand) met on June 21, and adopted the annual financial statements of the Company for the year ending Dec 31, 2011.

Particulars Dec 31, Dec 31,
2011 2010
Profit (KD) (Loss) (12,238,098) (23,709,296)
Earnings per share
(fils) (LPS) (32.66) (55.89)
Total current assets 2,497,505 3,972,860
Total assets 69,043,740 90,187,731
Total current liabi-
lities 13,633,773 13,271,277
Total liabilities 54,228,757 52,664,394
Total shareholders’
equity (3,853,603) 9,860,657

The total revenue from transactions with related parties is worth KD (127,591) and expenses amounts to KD (171,462).
The board of directors recommended not to distribute dividends for the year ending Dec 31, 2011.
Note that this recommendation is subject to the approval of the shareholders and the competent authorities.