Disclosure for sale some of the parent Company investments

20/02/2014 09:41 AST

Reference to the strategy adopted by the Board of Directors in restructuring the investments of the parent Company in each of its subsidiaries and investments available for sale after the reduction in the Company capital. The Board of Directors had studied the offers received from some investors to buy a stake of the parent Company in one of its subsidiaries companies, and buy shares of one of investments available for sale.

The Board decided unanimously approval to accept the offers at their emergency meeting held on Wednesday evening dated 19/2/2014.

The selling process will make a profit for the parent Company during the year ended December 31, 2014, and will provide liquid cash for the Company, which will have a positive effect in performance of the Company future.

The Board will disclosure to the shareholders / investors, the financial impact on the Company immediately after the completion of the legal procedures and the approval of the concerned authorities to complete the deal, The board had already completed the process of restructuring the Company investments after completing this deal, and will disclose to the shareholders / investors any updates on what mentioned above.


Muscat Market

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