Gulf General, BlueFive agree to extend subscription offer for new shares

09:32 AM (Mecca time) Argaam
Logo ofGulf General Cooperative Insurance Co.

Logo of Gulf General Cooperative Insurance Co.

Gulf General Cooperative Insurance Co. agreed on Jan. 21 with BlueFive last to extend the offer period related to BlueFive’s subscription to new cash shares in the company through a capital increase, with preemptive rights suspended, for an additional period ending on March 14.

 

In a statement to Tadawul, the insurer pointed out that the extension aimed to grant both parties sufficient time to complete the procedures stipulated in the offer and required before entering into final agreements related to the potential deal.

 

The company noted that all remaining terms and conditions of the offer remained in effect without any amendments.

 

In November, Gulf General signed a non-binding offer in November from BlueFive Investments Ltd (BlueFive), under which BlueFive intended to subscribe to new cash shares in the company through a capital increase with preemptive rights suspended, Argaam earlier reported.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.