DAMAC Properties has agreed to the offer made by Maple Invest Co. Ltd. to acquire the entire issued share capital of DAMAC, including reviewing the reports of independent advisors appointed by DAMAC in connection with the offer.
According to Al Khaleej newspaper, the independent committee of DAMAC has approved the contents of the draft prospectus to the shareholders of DAMAC, subject to the approval of the Securities and Commodities Authority, which specifies the recommendation of the independent committee of DAMAC shareholders regarding regarding the action they should take in connection with the offer.
The independent committee agreed to publish the bulletin as soon as practicable after obtaining approval for the bulletin from the authority.
