Monday, July 15, 2024

“First Dubai” General Assembly approves merger with “Al Masaya Holding”.


The Extraordinary General Assembly of First Dubai Real Estate Development Company approved 3 items for the meeting regarding the merger with Al Masaya Holding Company and the draft merger agreement by liquidation of “First Dubai”.
According to a report by the Kuwait Stock Exchange, the General Assembly approved the draft merger agreement signed with “Al Masaya” in September. The last will be the merging company.
The General Assembly approved all the annexes of the agreement, including the advice of the independent investment adviser, the asset valuation report prepared by the independent asset valuer and the share conversion ratio.
Assumes that “First Dubai” shareholders will receive 0.497 shares of “Al Masaya” shares in exchange for one share in “Dubai”; This is after completing all clearances from concerned regulatory authorities.
In the second item, the General Assembly approved the schedule for share rights, authorized the directors or executive management to amend the vesting date of shares, cease its trading according to the vesting schedule and dispose of fractions of shares. Any.
In the third section, it agreed to liquidate First Dubai Real Estate Development Company and transfer its entire financial responsibility, including assets and liabilities, to “Al Masaya” through a merger involving all its assets, rights and obligations. Accordingly, the legal personality of “First Dubai” will expire upon completion of the merger proceedings, its license will be canceled and it will be removed from the register of joint stock companies of the Ministry of Trade and Industry.

See also  A terrifying start for "Apple" .. It attracted a billion dollars in "iPhone" savings accounts within 4 days.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:


More like this

Embrace the Adventure: Discover Dubai’s Dune Buggy Tours

Introduction to the Dubai Dune Buggy Tour Buckle Up, Adventure...

Why Estonia is the Perfect Launchpad for Luxury Brands

The world of luxury fashion is synonymous with elegance,...

The Real Benefits of Being a VIP in the Online Casino Scene

Becoming a VIP can be a long process that...

The Evolution of Online Casino Bonuses: Trends and Future Predictions

Online casino bonuses have transformed from basic sign-up offers...