Iraqi News What will this mean for us?

[Latina]

http://www.warka-bank.com/inner.php?type=3&id=63

Dear Warka Clients,

I am delighted to inform you that a Senior Management and Board of Directors decision has been reached and made to increase our capital to IQD 250 billion the highest capital of any private bank in .

We will increase our capital to IQD 100 billion by February 28th 2010 issuing free shares to our shareholders further increasing our capital by the end of June 2010 to IQD 250 billion issuing paid up shares to our esteemed shareholders.

Please note that this an announcement where the bonus shares will be issued after we hold, finalize and complete our general assembly meeting in accordance with standard practice and procedures.

Thank you for sharing and contributing to our continuous success and growth.

Respectfully,

Warka Bank for Investment and Finance

[SBX]

Probably nothing unless you hold warka bank stock in the ISX

[warrengz]

Seems to me they are increasing their value!

[muydinar]

It means exactly what it says, it isn't related to an RV.

[LazySusan]

What I see that's very interesting here is that they are giving advance notice of giving free shares .... so if you invest now, you may get free shares on Feb 28th. Also, they are increasing their capital to IQD 100 Billion by Feb 28th to IQD 250 Billion by the end of June. That is a HUGE increase in terms of percentage. If you think about it, it could very well indicate a huge influx of IQD back INTO the country. I have no idea whether this indicates a RV, but for a bank to increase their holdings by 250% seems to indicate either a larger deposit base or a larger loan portfolio. Interesting .....

[SBX]

What I see that's very interesting here is that they are giving advance notice of giving free shares .... so if you invest now, you may get free shares on Feb 28th. Also, they are increasing their capital to IQD 100 Billion by Feb 28th to IQD 250 Billion by the end of June. That is a HUGE increase in terms of percentage. If you think about it, it could very well indicate a huge influx of IQD back INTO the country. I have no idea whether this indicates a RV, but for a bank to increase their holdings by 250% seems to indicate either a larger deposit base or a larger loan portfolio. Interesting .....

On things like this you usually have to be a share holder currently...on or prior to the date that the announcement is made. You cant just buy in now and get the free shares