Al Khaliji completes process for capping its authorized and unpaid share capital

Al khaliji has obtained all required regulatory approvals from the competent regulatory bodies including the Ministry of Business & Trade, the Qatar Central Bank, the Qatar Financial Market Authority and the Doha Securities Market (DSM) to cancel the unpaid share capital and reduce the authorized share capital from QR7,200,000,000 to QR3,600,000,000 by merging two shares into one in an automated process under the control of the DSM.

Fractional shares resulting from shareholders holding uneven numbers of shares will be collected in an account held with DSM in accordance with the instructions by DSM and sold into the market by an authorized DSM broker. Any sales proceeds will be kept in escrow in a separate account until Al Khaliji shareholders decide in the following EGA, on how proceeds should be applied.

His Excellency Sheikh Hamad Bin Faisal Bin Thani Al-Thani, Chairman and Managing Director of Al Khaliji, commented, "The conclusion of this process gives our shareholders the comfort and certainty that Al Khaliji will not call upon the previously unpaid capital portion of their shareholdings."