Global would like to clarify that BSE's decision was issued following a claim made by a third party that had previously shown interest in buying the shares alleging that it has a priority to buy the mentioned shares, however such allegations have no actual or legal grounds.
It is worth noting that although preliminary negotiations were conducted with the third party in April 2009, no agreement to sell the shares was reached as the parties failed to reach an agreement towards the deal's terms.
Global Investment House retains its legal rights to demand compensation from such third party for any damages that such claim may have caused Global.
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Notification from Global regarding halting process of selling its stake at Al Salam Bank
- Kuwait: Saturday, June 13 - 2009 at 16:13
- PRESS RELEASE
The director of Bahrain Stock Exchange (BSE) issued on 11th June, 2009 decision no. 15 for the year 2009 to halt the public auction arranged for the sale of Al Salam Bank's shares held by the Global Investment House (Global) consortium which had announced its intention to sell its entire stake through a public auction through the Bahrain Stock Exchange on Thursday, 11th June, 2009.
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Notes and media contacts
Media contact:Safa'a Al-Matari
Assistant Manager
Marketing & Communications
Global Investment House
Tel: (965) 22951626
Fax: (965) 22951638
P.O. Box 28807 Safat, 13149 Kuwait
Posted by Siba Sami AmmariSaturday, June 13 - 2009 at 16:13 UAE local time (GMT+4)
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