Eshraq Investment Company confirmed that it had obtained the Securities and Commodities Authority certificate to amend the capital clause in the articles of association in implementation of the acquisition of Goldilocks Fund and the reduction and increase of the capital resulting from the acquisition. In a disclosure to the Abu Dhabi Securities Exchange, “Eshraq” expected the completion of the capital reduction and the issuance of new shares within the next few days.
And this week, the general assembly of Ishraq Investment Company approved the board of directors’ recommendation to transfer the company’s current portfolio of financial assets to Goldilocks Investment Limited as an in-kind contribution, following completing the acquisition process with a percentage of (99.2%) approximately, which was previously approved by the general assembly. To consolidate all its financial holdings into one entity and obtain a larger and more efficient portfolio; So that the ownership of Ishraq Investment Company in Goldilocks Investment Company Limited, following completing the procedures for transferring the ownership of the assets, becomes (99.4%) or more.
A special decision was approved of the Board of Directors’ recommendation to buy the company a number of its shares, not exceeding 10% of the number of shares, with the intention of disposing of them in accordance with the decision issued by the Securities and Commodities Authority in this regard, and authorizing the company’s Board of Directors to implement the decision of the General Assembly within the period approved by the Authority; Reducing the company’s capital in the event that the deadline set by the Authority to dispose of the purchased shares expires by canceling those shares and amending the company’s capital in the articles of association.