New ordinary shares in Barwa Real Estate Company Q.S.C. ("Barwa") have been issued to shareholders of Qatar Real Estate Investment Company Q.S.C. ("Alaqaria") who accepted Barwa's offer to acquire the share capital of Alaqaria in exchange for shares in Barwa (the "Offer") by 14 April 2010 and to Qatari Diar Real Estate Investment Company Q.S.C. ("Qatari Diar"). The new Barwa ordinary shares have also been listed and admitted to trading on the Qatar Exchange ("QE"). Shareholders will be able to trade their new shares from Sunday 25 April 2010.
80,753,893 new Barwa ordinary shares have been issued to those Alaqaria shareholders who accepted the Offer by 14 April 2010. The Offer was accepted by shareholders of Alaqaria representing 85% of its share capital. A further 19,892,295 new Barwa ordinary shares have been issued to Qatari Diar in order to maintain a 45% equity shareholding in Barwa as per the terms contained in the Offer Document. The new number of outstanding Barwa ordinary shares post the increase is 363,146,188.
The listing and admission to trading of the new Barwa ordinary shares has been approved by the Ministry of Business and Trade ("MBT") and the Qatar Financial Markets Authority ("QFMA").
Barwa will continue to receive acceptances in accordance with the original terms of the Offer from Alaqaria shareholders who have not yet accepted the Offer. Such shareholders can continue to accept the Offer by returning the signed Form of Acceptance to the head office of Alaqaria, Museum Street, Old Salata, Doha.
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For more information on Barwa
Citigate Dewe Rogerson
Seb Hoyle
Ayman Hammamieh
Tel: +974 452 8335
Capital MS&L
Patrick Forbes
Farris Bukhari
Tel: +974 588 5345
© Press Release 2010
