the board of directors of the Emirates Agthia Group has approved the issuance of bonds mandatory conversion into shares in the amount of 450 million dirhams, with a nominal value of one dirham for each bond, in order to implement the acquisition of the entire capital of Al Foah Company .
The company said in a statement to the Abu Dhabi Securities Exchange, today, Tuesday, that the Board of Directors approved the increase of the capital from 600 million dirhams to 720 million dirhams, by issuing Bonds mandatory conversion.
and explained that these bonds will be converted into 120 million shares, at a conversion price of 3.75 dirhams for each new share in the company, for the benefit of the holding company Industries as the price of the acquisition of the entire capital of the company Virility.
the company added that the board of directors approved all agreements related to the deal, including bond issuance agreements and agreements to acquire Al Foah Company.
The Board also agreed to submit to the Securities and Commodities Authority a request to issue a certificate approving the issuance and conversion of bonds, increasing the company's capital, amending its articles of association, and listing the new shares resulting from the transfer of bonds In the name of the General Holding Company.
