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07/07/2015 04:10 AST
Shareholders of Renaissance Services have approved the company's Mandatory Convertible Bonds (MCB) buyback scheme and the issuance of perpetual notes to buyback the MCBs at an extraordinary general meeting here on Monday.
Renaissance held meetings with its shareholders and bondholders to discuss a scheme to give holders of its MCBs the option to choose cash instead of shares.
The perpetual notes could be issued both in United States dollar and in Omani rial.
"Renaissance is taking this step because the buyback of MCBs is good for the company's shareholders, MCB holders and for the company. The buyback gives MCB holders the choice to take cash instead of shares and so avoid any risks associated with share price volatility and liquidity," said Samir J. Fancy, chairman of Renaissance Services.
Times of Oman
30/06/2015
Oman's Muscat Securities Market (MSM) resumed trading of Renaissance Services shares on Monday, revoking an earlier trading suspension clamped on Thursday afternoon.
Renaissance Services l
Times of Oman
29/06/2015
Renaissance Services is an Omani multinational firm listed firm on the Muscat Securities Market (MSM), with a strong presence in oil servicing field. The company's chief financial officer (CFO) Visha
Times of Oman
28/06/2015
Topaz Energy and Marine is eyeing expansion into South America in the next two years as the Dubai-based oil services firm looks beyond the current difficulties in the sector caused by the lower oi
Times of Oman
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26/04/2025
Adnoc Distribution, a leading fuel distributor and convenience store operator, has unveiled plans for a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging p
Trade Arabia
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Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
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The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
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