Mubasher TV
Contact Us Advertising   العربية

Global approves merger with KAMCO

Global approves merger with KAMCO
Global accepted its board’s recommendation to merge with KAMCO
KAMCO
KAMCO
1.19% 102.00 1.20

Mubasher: The extraordinary general meeting (EGM) of Global Investment House has discussed the matters pertaining to the draft merger with KAMCO Investment Company during its meeting on 18 September 2019.

Global’s shareholders have approved the cancellation of treasury stocks amounting to 13 million shares, according to a press release on Wednesday.

Moreover, Global’s EGM approved the draft merger contract concluded on 4 July 2019 where KAMCO shall be the merging company while Global will be the merged.

Additionally, Global assented the independent investment advisor’s consultation which set out the 0.75522821 exchange ratio, in addition to the assessments of assets of the two companies issued by the independent asset assessor.

Meanwhile, Global accepted its board’s recommendation to merge with KAMCO, dissolute the company, and transfer its financial clearance unto KAMCO.