Apr 01 2010 |
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Alaqaria sets deadline to submit merger acceptance form
DOHA: The Board of Directors of Qatar Real Estate Investment Company ( Alaqaria ) has set April 14, 2010 as the deadline for the company's shareholders to submit the Acceptance Form relating to Barwa Real Estate Company's ("Barwa") offer for merger with Alaqaria ."The Board of Directors of Alaqaria encourages all shareholders to complete the Acceptance Form. Shareholders who do not submit the form will not be able to exchange their shares into Barwa shares and will therefore not enjoy the benefits of the offer," said the company in a news release yesterday.
The shareholders of Alaqaria , one of Qatar's leading public shareholding companies, approved on Tuesday the Company's plans to merge its business with that of Barwa.
Shareholders representing 77.5 percent of Alaqaria 's outstanding share capital attended the Extraordinary General Meeting (EGM) and approved the terms of and conditions of the proposed transaction that will create the largest listed real estate company in Qatar by assets and the GCC's sixth largest listed real estate group by market capitalisation.
Commenting on the shareholder approval of the transaction, Alaqaria Chairman, Sheikh Khalid Bin Khalifa Al Thani said, " It is a historic day for Alaqaria as it takes the company one step closer to combining its business with that of Barwa."
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