Al Meera Holding Enters Into MOU with SAFEER Arabian International

It is worthy to mention that in supporting the aggressive expansion plan, Al Meera Consumer Goods’ Board of Directors recently proposed increasing the firm’s capital by 950,000,000 Qatari riyals. Beginning of this week, Al Meera Consumer Goods Company’s Board had disclosed to the market its intention to request a call for Extraordinary General Meeting to discuss and endorse the increasing of the capital through a rights issue to the shareholders , with a value of QAR 950,000,000, subject to the approval of the relevant authorities. Ten million rights would be issued at the rights price of Ten Qatari Riyals per share + a premium of Eighty Five Qatari Riyals per share. Not only does the increase provide a lucrative opportunity for the company’s shareholders (as the capital increase will come through a rights issue), but will also provide the capital required to fund Al Meera’s ambitious strategy. During the last General Assembly early this year, the Al Meera Board of Directors had stated that "Al Meera is looking forward to expanding its activities in order to deepen its presence in various spheres of commercial activities in the local and regional markets, whether independently or through strategic relationships"; the recent publications demonstrate an aggressive plan to deliver against such statement.