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Kuwait Energy shareholders give go ahead to rights issue

11 October 2010

Kuwait Energy's shareholders have approved a plan to increase the company's authorised share capital from KD103.6m ($366m) to KD127m after a rights issue of 198.3 million shares. "The rights issue will enable Kuwait Energy to pursue organic growth in our expansion plans, to develop recent discoveries and explore additional wells in our assets in the region, especially in Egypt," chairman and managing director Dr Manssour Aboukhamseen said.

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