Catherine Stauber, president of Giant Bay and NovaTech says the transaction will be a reverse takeover passing corporate control to the Japanese company NUKS, and in doing so, it can now take advantage of NAFTA to manufacture and market in North America without the restrictions of the high Japanese yen.
NovaTech has commissioned the required corporate and regulatory studies and is seeking approvals of NUKS nominees as directors and senior officers of NovaTech.
The delegation including Nasser Bin Nasser, NUKS President, and Ali Al Fajji, Head of Freshman Committee was welcomed by the National Bank of Kuwait (NBK) Group Deputy CEO Isam Al Sager and had organized surprises, cash prizes and luxurious gifts for Kuwaiti students studying in the States.
NBK is always keen to support NUKS activities as part of our commitment towards Kuwaiti youth and students.
Existing management and directors of Novatech will resign and the company control passed to NUKS
nominees yet to be designated, but including Satoru Nara, President of NUKS
Both the Kuwaiti Embassy and NUKS
honored Al-Huwail for his achievement which was covered by the Capital Gazette on January 22, 2015.
On their part, members of the NUKS
lauded the minister's statements and indicated that such consideration towards Kuwaiti students abroad will fuel their desire to fulfill their academic careers to help in the future development of Kuwait.
representatives then present His Highness the Crown Prince with a gift as a token of their appreciation.