Mubasher: Salalah Mills Company’s board meeting on 29 December approved the study of the merger proposal by Salalah Macaroni Company.

“An expert bureau will be appointed to assess the merger proposal, evaluate the assets of the two companies and propose the preliminary swap ratio,” according to a bourse statement issued on Sunday.

A cash dividend accounting for 40% of paid-up capital is proposed for the fiscal year ended on 31 December, 2016 or a payment of 40 Baiza per share as well as a look at the distribution of 20% of paid-up capital or 20 Baiza per share in the second half of 2017.