AHLI UNITED BANK’S RIGHTS ISSUE OF 300 MILLION ORDINARY SHARES OPENS ON 18 NOVEMBER 2007
The Pre-emptive Rights Issue of Ahli United Bank B.S.C. (AUB) opens on 18 November 2007. The Offer consists of issue of 300 million ordinary shares of US$0.25 nominal value each at the rate of US$1.01 per share including issue expense of US$0.01 per share on a pro-rate basis of 100 ordinary shares for every 1001 ordinary shares held on the record date of 13 November 2007.The subscription period opens on 18 November 2007 and closes on 2 December 2007.
“To support its well established strategy of regional growth, AUB is continually assessing and seeking to expand in the region organically and through further consolidation, mergers and alliances when the appropriate viable opportunities arise.” said Fahad Al- Rajaan, Chairman, AUB.
The new shares offered will rank pari-passu with all other ordinary shares of the Bank following the issue except for any cash dividends relating to the fiscal year 2007 which will be paid on these shares on a pro-rate basis relating to the time period from the final allotment date to 31 December 2007.These new shares will receive full rights for any stock dividends relating to the fiscal year 2007.
The subscription application forms and the information memorandum will be available from 18 November 2007 at the offices of the Share Registrar ( “KPMG”),Issue Agent (“Keypoint Consulting WLL) ,besides at the AUB’s selected branches in the Kingdom of Bahrain and at the Head Office at the Bank of Kuwait and Middle East K.S.C. in the State of Kuwait.