2024-02-26 14:48:29
Abu Dhabi – Mubasher: The Board of Directors of Q Holding approved an increase in the company’s capital by issuing mandatory bonds, where 25.6 billion mandatory bonds will be issued, convertible into shares, with a nominal value of one dirham for each bond.
The company listed on the Abu Dhabi Securities Market stated today, Monday, that the Board approved the issuance of bonds worth 17.09 billion bonds that are mandatory to be converted into shares (with a nominal value of one dirham for each bond) to ADQ Real Estate and Hotel Investments Company or any of the companies affiliated with the Abu Dhabi Development Company. Holding will be converted into 6.33 billion new shares in Q Holding, according to the “Al Khaleej” website.
And the issuance of 8.54 billion bonds, which are mandatory to be converted into shares (with a nominal value of one dirham for each bond) to IHC Capital Holding Company or any of the subsidiaries of the International Holding Company, and will be converted into 3.16 billion new shares in Q Holding.
The Board approved converting the above-mentioned bonds into shares at a conversion rate of 2.7 bonds per share and increasing the company’s capital from 6.85 billion dirhams to 16.35 billion dirhams, by issuing 9.49 billion shares to ADQ Real Estate and Hotel Investment Company and IHC Capital Holding Company, as consideration for the acquisition. Q Holding on their shares in the target companies and their assets.
The capital increase shares were distributed at approximately 6.33 billion new shares in favor of ADQ Real Estate and Hotel Investment Company or any of the companies affiliated with Abu Dhabi Developmental Holding Company, and 3.16 billion new shares in favor of IHC Capital Holding Company or any of the companies affiliated with the International Holding Company.
The Board of Directors approved the amendment to Article 6 of the company’s bylaws for private capital, and submitted a request to the Ministry of Economy to obtain its approval to issue the increase shares.
The Council also agreed to amend the company’s name from Q Holding to Mudon Holding, and to invite the General Assembly to approve, by special resolution, the amendment of the company’s name and to amend Article 2 of the company’s bylaws.
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