Emirates- Agthia is looking for business consolidation with Al Foah, November 29

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Source: (MENAFN – Al-Bayan)

  • Abu Dhabi – Al-Bayan

Date: November 15, 2020 Agthia’s board of directors invited the shareholders to attend the general assembly meeting on November 29th to consider approving the business consolidation deal with Al Foah.

The company said, in a disclosure to the Abu Dhabi Market, yesterday, that the association will also consider approving the company to issue mandatory bonds, with a total value of 450 million shares, with a nominal value of one dirham for the bond, to the General Holding Company, Industries, as an acquisition price, to be paid by the company. For the acquisition of Al Foah Company, to convert these bonds into 120 million new shares in the company, with a nominal value of one dirham per share.

The assembly will also consider increasing the company’s capital when converting these bonds, to 720 million dirhams, and considering each of the company’s shares fully paid. And also the approval of increasing the issued capital of the company, from 600 million dirhams, to 720 million dirhams.

Agthia Group advised its shareholders, in a document published on the market’s website yesterday, to obtain independent financial advice from their stock broker, accountant or any other independent financial advisor, in relation to the recommended acquisition of Al Foah Company, in the event that They made sure of the necessary action to take.

She explained that in the event that the shareholders sell or assign all of their shares in Agthia Group, please send this document to the stock broker, the bank or the agent who carried out the sale, or the transfer to the party who bought those shares, or the person who transferred the shares. mechanism.

She added, “In the event that the shareholders sell or assign a portion of the shares in Agthia, they must keep the document and obtain the advice of the stock broker or the bank, or any other agent who carried out the sale or transfer.

The company noted that this document has not been published or distributed, and it must not be sent or transferred in or within any region outside the Emirates, in which the issuance of new shares in Foods is prohibited, according to a law or instructions in that country.

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