According to ArabiaNet, the company said, in a statement to the Saudi stock market, that if the merger deal was approved by all relevant government agencies and by the association Extraordinary General Assembly for both companies, Gulf Union Company will issue 7,947,464 new ordinary shares, with a par value of 10 Saudi riyals per share, in exchange for the acquisition of all issued shares in the National Company.
She explained that the total value of the deal amounted to 79.474 million Saudi riyals.
She indicated that 0.646 shares will be issued in Union Gulf Company for every one share in Al-Ahlia Company (swap coefficient), and new shares will be issued by increasing the capital of a company Gulf Union from 150 million riyals to 229.47 million riyals, and increasing the number of shares from 15 million shares to 22.9 million ordinary shares.
