Friday , May 27 2022

“GFH” declares that it has accepted the terms of the acquisition of “Khalilji Commercial”


GFH Group announced the acceptance of voluntary conditional offer certified terms to receive 100% of the common shares issued and paid by Gulf Commercial Bank.

Group A said in its statement to the Dubai Financial Market that it has offered to acquire ordinary shares of up to 187.589 million from the bank (including voting rights), representing 21.03 of the bank’s issued and paid-up capital. Percentage. , With the exchange of shares at the request of the Bank. Every shareholder of the bank.

The Group announced the approval of 40.37% of GFH shareholders at the General Assembly meeting on October 14, 2021, to purchase and use the Treasury shares for Sunday’s purpose, and regained regulatory and legal sanctions regarding the above.

Regarding the offer consideration, the statement indicates that the Offer consideration is proposed for shares of GFH in the GFH with a share exchange ratio of 0.914 shares in the offering.

Last week, the General Assembly of the GFH Financial Group decided to hold shares of the group on the Kuwait Stock Exchange and also decided to buy back the shares (treasury shares) of the group, the shares issued for the following purposes: No more than 10% of the shares are subject to approval by the Central Bank of Bahrain.

This comes in light of the acquisition of net commercial bank shares using treasury shares under an acquisition offer, not equal to 171.416 million ordinary shares, equivalent to 4.5% of the group’s shares.

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