The Mbel explained the implementation of partial acquisition of shares in the capital of Damac Real Estate, until it supplements some facts related to the deal.
"The company said in a statement that he decided to postpone actions on acquisition until the study was completed; Due to the Securities and Commodities Commission is currently studying some of the facts concerning this issue.
According to the presentation on the NASDAQ Dubai, MAPLE Invest is intended to acquire an exceeding 90% of Damac, so that it can submit a compulsory acquisition On the rest of the stock and pull their insertion.
Offered through Maple Invest at AED 30 and 30 fils per share.
MAPLE INVEST has directly and indirectly 88% of Damac real estate.
"In an interview with Arab, Mohammed Ali Yasin, chief executive for strategies and clients in the Dwells and Customers, said that the study of the Securities and Commodities Commission in the Dubai market to view the acquisition of shares DAMAC by MBB is owned by a prisoner, a positive step in the protection of young investors.
> DAMAC Real Estate Company announced several measures to maintain minority rights from shareholders and ensure fair treatment, with an independent resident and an independent financial adviser to make members of its Board of Directors Assessment of the equity of the presentation of the acquisition submitted by Mabel Financially Exposed from the perspective of shareholders, including the minority.
