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07/04/2013 09:39 AST
The Board of Directors of Transgulf Investment Holding Co. (SAOG) approved in its meeting held today, 6th April 2013, the merger of Al Madina Financial & Investment Services Co. (SAOC) in Transgulf Investment Holding Co. (SAOG) on the basis of the audited book values of the two companies as at 31 December 2012.
The audited book values as at 31 December 2012 are RO 0.120 and RO 0.126 for Transgulf Investment Holding Co. (SAOG) and Al Madina Financial & Investment Services Co. (SAOC) respectively.
KPMG has prepared the balance sheet of the company after the merger which is presented to the Board of Directors. The Board decided to recommend to EGM, to be held during this month, to study the proposal and approve whatever is appropriate.
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Financial Information Co.
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