Nakilat Share Auction: Selling Nakilat Shares Of Which The Remaining Value Has
Not Been Settled
Qatar, May 01,
2007
Nakilat announces the selling of Nakilat shares that has not been settled by
the owners (5
Qatari Riyals per share) to date. Currently an estimated 12 million shares
has not been settled, these shares will be subject to an auction following the
rules and conditions set out below:
-
The auction meeting will be held at 9.30 am on Sunday May 6, 2007 at the Doha
Securities Market HQ.
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The shares subject to selling will be sorted into 10 equal lots (Groups).
-
The selling price of the share informed by Nakilat to the broker (Dlalah
Brokerage Company) and to the DSM prior to the auction will be subject to
bidding for higher price.
-
Selling of shares will take place at the DSM “special market” according to the
valid regulations using a “floating price”. Selling will be made at the highest
share price for each lot provided such price is not less than the share price
decided by Nakilat.
-
Bidding will be made on each lot of the 10 lots as one unit and it is not
allowed to bid for part of one lot.
-
Settlement of the purchased lots will be made according to the DSM settlement
rules.
-
In case the price decided by Nakilat is not reached, the auction will be
postponed to another date to be announced later.
-
Nakilat will recover from the selling price the remaining 5 riyals for each
share in addition to any expenses and return the balance, if any, to each
shareholder who got his shares sold at the auction.
-
Pledged & reserved shares will not be sold through this auction. These
shares will be sorted out later as might be decided by Nakilat Management.
In this respect we remind the shareholders who did not settle the remaining 50%
of their share values that all Qatar National Bank branches will continue to
receive the above value until 1.00 pm on Thursday May 3, 2007.
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