Al Mazaya Holding Co (K.S.C) a leading property firm in the region, signed a contribution contract with "Oman Construction" to share in a real estate investment portfolio in Oman with a capital of OMR 3.1 million. Al Mazaya's share is 40% while 12% is for Oman Construction and 12% for "Mina" real estate company. The remainder of the percentage is submitted for IPO from a chosen group of investors and real estate companies.
Supplementary Disclosure (Reaching a preliminary agreement to study entering a merger through amalgamation between Al Mazaya Holding Company and First Dubai Real Estate Development Company.
23-March-2023
Date: 22/03/2023
Subject: Supplementary Disclosure (Reaching a preliminary agreement to study entering a merger through amalgamation between Al Mazaya Holding Company K.S.C.P (Holding) and First Dubai Real Estate Development Company K.S.C.P)
With reference to the above subject and Paragraph (20) article 4-1-1 of chapter 4 of book 10 of the executive regulation of law No.7 of 2010 regarding the establishment of the Capital Markets Authority and regulating securities’ activities, kindly find attached Supplementary Disclosure form.
Supplementary Disclosure
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22/03/2023
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Date:
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Al Mazaya Holding Co. K.S.C. P
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Name of listed company
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Supplementary Disclosure from Al Mazaya Holding Company KSCP regarding Reaching a preliminary agreement to study entering a merger through amalgamation between Al Mazaya Holding Company K.S.C.P (Holding) and First Dubai Real Estate Development Company K.S.C.P)
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Disclosure Subject
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16/03/2023
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Date of previous disclosure
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The Board of Directors of Al Mazaya Holding Company has met on Wednesday 22/03/2023 at 1:30 pm, and a preliminary agreement was reached between:
1- Al Mazaya Holding Company K.S.C.P (Holding) (Listed)
2- First Dubai Real Estate Development Company K.S.C.P (Listed)
Regarding their willingness to study entering into a merger through amalgamation in accordance with the provisions of Book Nine (Merger and Acquisition) of the Executive Regulations of Law No. (7) of 2010 and its amendments, and Companies Law No. (1) of 2016 and its executive regulations and its amendments, where Al Mazaya Holding Company K.S.C.P. (Holding) will be the merging company and First Dubai Real Estate Development Company K.S.C.P. will be the merged company.
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Disclosure updates
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There is no current financial impact on Al Mazaya Holding Company K.S.C. P.
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Financial impact of the update (if any)
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