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Nakilat Announces Mechanism Of Returning The Remaining Balance To The Shareholders After Selling The Unsettled Shares By Auction
Qatar, May 13,
2007
In accordance with (article 157) of the Companies law no. (5) of year 2002 and after giving the shareholders numerous opportunities and sending them registered mail to settle the remaining 50% of the Company’s capital (QR 5 riyals) and since no settlement has been made, such shares have been sold at the Doha Securities Market according to the rules specified in the Companies law and announced in time. The cost of selling each share has reached QR 19.20 from which Nakilat has recovered the remaining capital (QR5 per share) plus other relevant cost of (QR 0.06). The remaining balance per share that equals (19.20 – 5.06 = QR 14.14) is being returned by means of a cheque issued by Qatar National Bank for the benefit of the “First Payee Only” and sent by registered mail based on the address available for each shareholder as per the Doha Securities Market records by next week.
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