KSA - Gulf Union issues circular for merger with Al-Ahlia
Friday, 09 04 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
Gulf Union Cooperative Insurance Co. issued a circular, offer document and timetable of its capital hike to complete the merger with Al-Ahlia Insurance Co., the insurance company said in a statement.
This came with reference to the Capital Market Authority’s (CMA) approval on Aug. 31 for Gulf Union’s application to increase its share capital for the merger of Al-Ahlia into Gulf Union through a share swap.
The circular was prepared by Gulf Union in accordance with the requirements of the securities offer rules, and continuing obligations with respect to Gulf Union’s capital increase, in light of Al-Ahlia’s the merger into Gulf Union.
The circular may be obtained through the CMA’s portal, Gulf Union’s website or the Saudi Kuwait Finance, Gulf Union’s financial advisor.