Al Mazaya Holding Co (K.S.C) a leading property firm in the region, signed a contribution contract with “Oman Construction” to share in a real estate investment portfolio in Oman with a capital of OMR 3.1 million. Al Mazaya’s share is 40% while 12% is for Oman Construction and 12% for “Mina” real estate company. The remainder of the percentage is submitted for IPO from a chosen group of investors and real estate companies.
Mazaya Holding is allowed to buyback and re-sell shares (not more than 10% of its shares)
With reference to the above mentioned subject and to Capital Markets Authority’s guidelines on disclosure of material information (هـ أ .م/ق.ر./إ.م./2/2012), specifically the 4th clause of the 4th Article of Capital Markets Authority’s guidelines on the buyback of shares by the share issuing entity (هـ أ .م / ق.ت.ر./ ت.ش. /6 /2013 ) which governs the buyback process, we would like to inform you that the Capital Markets Authority has allowed Mazaya Holding (KJSC) to buy and resell 10% of its shares (reserve shares), for a duration of 6 months as from the date of issuing the approval (19.11.2014), provided that the value of the transaction shall not exceed the available financing sources as per the Capital Markets Authority Law No.7 of 2010 and its subsequent executive regulations and the related decisions, terms and conditions issued by supervisory bodies.
