Edaa implements corporate action on Gulf Union

The Securities Depository Center Co. (Edaa) implemented the securities quantity increase for Gulf Union Cooperative Insurance Co. into the accounts of eligible shareholders today, Dec. 8, it said in a statement.

According to data compiled by Argaam, Gulf Union announced, on Dec. 6, the effectiveness of the merger resolution, pursuant to which all assets and liabilities of Al-Ahlia Insurance Co. will be transferred to Gulf Union by issuing new shares with no outstanding unsatisfied creditor objections.