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.
Disclosure of Percentage of Ownership
With reference to the above subject and to Article 385 of the Executive Regulation of Law No. 7 of 2010 concerning the establishment of Capital Markets Authority, kindly be advised that on 13/09/2015 a number of 100,000,000 shares (one million shares) of the shares of First Dubai Real Estate Development Company K.S.C. was transferred from Kamco Investment Company K.S.C.P. – Portfolios Account to Al Mazaya Holding K.S.C.P. (Holding) at a percentage of 10% of the capital of First Dubai Real Estate Development Company K.S.C.P., and there is no change in the ownership,
as what happened is just a transfer of shares from indirect ownership (Portfolios Account) to direct ownership in the register of shareholders, and there is no change occurred in the percentage of ownership of Al Mazaya Holding in the capital of First Dubai Real Estate Development Company K.S.C. on this date.
As it owns 620.825.000 shares at a percentage of 62.08% of the capital of First Dubai Real Estate Development Company K.S.C. direct and indirect ownership on the date of transfer as follows:
a. A number of 372.001.755 shares, direct ownership at a percentage of 37.20%.
b. A number of 248.823.245 shares, indirect ownership at a percentage of 24.88% through (The Arab Investment Company – Customers 1).
