13 May 2014
Muscat: The board of directors of Flexible Industrial Packaging Company has decided to undertake a restructuring plan. As part of this plan, it was proposed to convert the company's legal status from jointly held joint stock company to closely held joint stock company.

As per the discussions with the Capital Market Authority (CMA), in order to safeguard the interest of minority shareholders, MB Holding sought the permission of CMA to buy the shares of minority shareholders. The CMA has given us the approval to buy shares.

MB Holding will buy shares from those who have less than 50,000 shares at a price of 60 baisas per share between May 14 and 28. Gulf Baader Capital Markets is the authorised broker. Interested shareholders should approach their respective share broker and GBCM to sell their shares.

© Times of Oman 2014