Referring to the above subject, regarding the disclosure of updates of the protentional offer for the indirect acquisition of a subsidiary of Gulf Warehousing Company (Gulf Warehouse Chemical Company), which intends to acquire Spick and Span Cleaning Services.

 

In compliance of GWC QPSC with all the disclosure requirements mentioned in the provisions of Article No. (2) Clause (3) of the Acquisition and Merger rules issued by the Resolution of the Boards of QFMA No. (2) for the year 2014 which states ". .... In the event that the procedures for implementing the acquisition and merger process are not completed, the Authority and the market shall be notified of the reasons for this and whether the failure to complete is temporary or final.”

 

Accordingly, kindly note that the above process has not been completed and it has been canceled after the study and assessments made by GWC on terms of acquisition between the two parties was disagreed upon.