Salam International Investment Limited (SIIL) Board of Directors yesterday reviewed approval updates of the acquisition of Salam Bounian (SBD) by SIIL and went through competent authorities’ responses regarding requirements of acquisition.
In addition, the Board mandated SIIL’s relevant departments to study and set up an action plan and time schedule to comply with all requirements in accordance with the provisions of Commercial Companies Law no: (5) of 2002 and other applied regulations.
This was one of the resolutions that SIIL passed yesterday in its Ordinary meeting.
Moreover, the Board reviewed results of the preliminary studies of financial impacts on SIIL’s fundamental and financial indicators from all aspects. It reviewed as well the acquisition’s phases and other available alternatives.
The Board requested the completion of those studies and the set up a time schedule for the acquisition’s phases which will be referred to the General Assembly and competent authorities once it is finalized for approval and ratification.
Based on the previous General Assembly approval of cooperation and entering joint ventures projects with SBD, ratification of financial relations with SBD, and authorization of the Board to undertake all official and financial procedures by competent authorities, the Board decided to inform the next General Assembly of relation update to be ratified once again.
Besides, the Board approved to hold a meeting on February 7, 2010 to announce the consolidated financial results for the period ended December 31, 2009 and determine the percentage and nature of dividends.
Gold price is still not stabilized in India like everywhere else. After going down, the g
Gold price opens lower in Hong Kong
The gold price in Hong Kong went down 180 HK dollars to open at 12,720 HK dollars per tael on Thursday, according to the Chinese Gold and Silver Exchange Society.
The price is equivalent
Market Cap Indices Turn Red at Qatar Exchange
The QE index spending almost the entire session below the break even line witnessed a bearish trend on Thursday 23rd May 2013. The index dropping 37.28 points or 0.41 percent reached at 9,048.62 leve
Small Cap and Large Cap Push ADX Index Lower
The ADX General Index sustained its downward march and finished the session with a decline of 1.23 percent on Thursday 23rd May 2013 . The index dropped 43.02 points, closing at 3,460.36.
WEF to focus on challenges
Leaders from the Middle East and North Africa in business, economics and politics will focus on the aftermath of the Arab Spring as they gather for the World Economic Forum in Jordan this weekend.