ID :
188508
Tue, 06/14/2011 - 13:54
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https://oananews.org//node/188508
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Zad Holding Announces Acquisition of Meeda Projects Company
Doha, June 14 (QNA) - The General Assembly of the Zad Holding Company has approved the proposal of Board of directors for acquiring Meeda Projects Company.
The acquisition will be by increasing the share capital through issuing 8,464,132 shares of Zad to the shareholders of Meeda projects for its value (every 7.7387 shares of Meeda entitle 1 share of Zad) after the approval of Ministry of business and trade. The share capital of Zad holding after this issue will be QR 215,452,000, the company said in a statement published on the (Qatar Exchange) website on Tuesday.
The Company's general assembly delegated the Board of directors to make required amendments in the Articles of Association and carry out the required process with regulators.
The changes in the Articles of Association included amending the maximum number of shareholding in the company share capital to be 7.5% of the total shares.
It also approved to amend the articles of association to change the minimum shareholding by Board of directors to 100,000 shares. Zad Holding Company was established in 1969. It was listed on Qatar Stock Exchange in 1997.
Zad was formerly known as (Qatar Flour Mill). It works in foodstuffs and animal feed.
Meeda Project Company is a private shareholding company works in the fields of real estate, roads, infrastructure, building and construction. (QNA)
The acquisition will be by increasing the share capital through issuing 8,464,132 shares of Zad to the shareholders of Meeda projects for its value (every 7.7387 shares of Meeda entitle 1 share of Zad) after the approval of Ministry of business and trade. The share capital of Zad holding after this issue will be QR 215,452,000, the company said in a statement published on the (Qatar Exchange) website on Tuesday.
The Company's general assembly delegated the Board of directors to make required amendments in the Articles of Association and carry out the required process with regulators.
The changes in the Articles of Association included amending the maximum number of shareholding in the company share capital to be 7.5% of the total shares.
It also approved to amend the articles of association to change the minimum shareholding by Board of directors to 100,000 shares. Zad Holding Company was established in 1969. It was listed on Qatar Stock Exchange in 1997.
Zad was formerly known as (Qatar Flour Mill). It works in foodstuffs and animal feed.
Meeda Project Company is a private shareholding company works in the fields of real estate, roads, infrastructure, building and construction. (QNA)
