Allowing National Bank of Kuwait -Egypt- NBK (NBKE.CA) to Go through Voluntary De-listing (Main Market)
The Listing Committee held on 19/01/2022 has allowed National Bank of Kuwait -Egypt- NBK , to go through the procedures of the voluntary de-listing , based on its listed capital amounted to EGP 5 billion distributed over EGP 500 million shares, with par value of EGP 10 per share.
Provided that the bank buys the shares of shareholders wishing to sell, who object to the voluntary delisting decision at a price of EGP 20.03 per share, based on the fair value study prepared by the independent financial advisor on November 8, 2021, in accordance with Article (55) and Article (55) bis of the listing rules, and Article (74) of its executive procedures and their amendments.
The bank is obligated to publish an announcement in two widely circulated daily morning newspapers with the details of the purchase process, provided that the purchase shall include all shareholders who object to the voluntary delisting in accordance with the dates indicated in this announcement.
the EGX’s operations sector shall coordinate with the bank in order to open the special operations market to implement the purchase of the shares of the objectors in accordance with Article (55) and Article (55) bis of the listing rules and what is stated in Article (74) of the executive procedures for the listing rules, as well as creating the code in the name of the account of the voluntary De-listing shares
The final delisting of the bank’s shares shall be presented to the Listing Committee after being notified by the Operations Sector regarding the implementation of the purchase process for all the shares offered for sale, with the bank’s data being removed from the EGX’s database, with a related notification of the MCDR.
Trading of the bank’s shares has been transferred to List (D) as of the beginning of the trading session on Thursday 20/1/2022.
In accordance with the regulating regulations, in light of the bank proceeding with the voluntary delisting procedures until the completion of the delisting procedures.
Provided that the bank buys the shares of shareholders wishing to sell, who object to the voluntary delisting decision at a price of EGP 20.03 per share, based on the fair value study prepared by the independent financial advisor on November 8, 2021, in accordance with Article (55) and Article (55) bis of the listing rules, and Article (74) of its executive procedures and their amendments.
The bank is obligated to publish an announcement in two widely circulated daily morning newspapers with the details of the purchase process, provided that the purchase shall include all shareholders who object to the voluntary delisting in accordance with the dates indicated in this announcement.
the EGX’s operations sector shall coordinate with the bank in order to open the special operations market to implement the purchase of the shares of the objectors in accordance with Article (55) and Article (55) bis of the listing rules and what is stated in Article (74) of the executive procedures for the listing rules, as well as creating the code in the name of the account of the voluntary De-listing shares
The final delisting of the bank’s shares shall be presented to the Listing Committee after being notified by the Operations Sector regarding the implementation of the purchase process for all the shares offered for sale, with the bank’s data being removed from the EGX’s database, with a related notification of the MCDR.
Trading of the bank’s shares has been transferred to List (D) as of the beginning of the trading session on Thursday 20/1/2022.
In accordance with the regulating regulations, in light of the bank proceeding with the voluntary delisting procedures until the completion of the delisting procedures.
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