Mar 22 2010 |
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Barwa offer document for Alaqaria available online
DOHA: Following the launch of its offer to acquire the share capital of Qatar Real Estate Investment Company ( Alaqaria ) on March 9, 2010, Barwa Real Estate Company yesterday announced that following approval from the Qatar Financial Markets Authority, the Offer Document is now available at the dedicated website: www.barwa-alaqaria-merger.com.The Offer Document will also be mailed to the shareholders of Alaqaria shortly.
As announced previously, Barwa is offering to acquire, subject to the terms and conditions set out in the Offer Document, each Alaqaria share in exchange for 1.100 shares in Barwa . This exchange ratio values each Alaqaria share at QR36.30 per share based on the closing share prices of Barwa and Alaqaria on January 7, 2010, the trading day prior to the announcement of the initial terms of the proposed transaction, and represents a 30.6 percent premium over Alaqaria 's closing share price on January 7, 2010. The offer opened for acceptance on March 9, 2010 and is expected to remain open until April 14, 2010.
Alaqaria Shareholders are encouraged to take two actions: accept the offer by completing the Acceptance Form; attend the Alaqaria Extra-ordinary general meeting (EGM) to be held at the Grand Hyatt Doha on March 30, 6pm and vote in favour of the resolutions to be proposed at the EGM.
Shareholders of Barwa are encouraged to take only one action: attend the Barwa EGM to be held at the Grand Hyatt, Doha on March 30 at 4:30pm and vote in favour of the resolutions to be proposed at the EGM.
Further details including proxy forms, are available on the website. Shareholders can also contact dedicated hotlines: For Barwa Shareholders: 499 2042 / 499 2048 and Alaqaria Shareholders: 800 1090.
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