07-07-2021
Commercial Bank (Q.P.S.C.) (“Commercial Bank”) announced on June 3, 2021 an offer to acquire an additional 15.2% of the issued share capital (the “issued capital”) of the National Bank of Oman (SAOG) (“National Bank of Oman”) (the Offer) in accordance with the Acquisition and Control Regulation No. ( خ/2/2019) to shareholders registered on the closing date of the offer mentioned below (“National Bank of Oman Shareholders”).
The offer remains open until two o'clock in the afternoon from the closing date of the offer shown below.
Commercial Bank refers to the following:
- The closing date of the offer will not change.
- The terms of the offer, including the offer price, will not change.
-According to the offer, if 15.2% of the issued share capital offered by the shareholders of National Bank of Oman is not reached, Commercial Bank may withdraw the offer.
Key dates:
Registration date: 9 June 2021.
Offer start date: 10 June 2021.
Offer end date: 11 July 2021.
Offer Price:
Cash-only offer of OMR 0.200 per NBO share, representing (1) a premium of 36% against the volume-weighted average price (“VWAP”) since January 1, 2021; (2) a premium of 28% against the average Volume weighted price for the last three months; and (3) a premium of 18% against the closing price on 2 June 2021.
Important: This offer is made by Commercial Bank to all shareholders of National Bank of Oman up to the closing date of the offer, and is still open on the date of this announcement. Commercial Bank intends to acquire an additional 15.2% of the issued share capital (i.e. 247,146,240 NBO shares) which would increase Commercial Bank's stake in NBO to 50.1% of the issued share capital. Shareholders of National Bank of Oman are not obligated to accept the Offer. However, if a shareholder of the National Bank of Oman wishes to accept the offer, that shareholder must indicate his intent by filling in and signing the acceptance form. In the event that the offer is accepted by shareholders of National Bank of Oman who together own less than 15.2 per cent, Commercial Bank may withdraw the offer or acquire the number of National Bank of Oman shares concerned from the shareholders of National Bank of Oman who have accepted the offer.
Advisor: Ubar Financial Investments SAOC
To inquire about the submitted offer, please contact Ubar for Financial Investments SAOC on the following numbers:
Hanina Banatwala Deputy Head of Mediation department hunaina@u-capital.net +968-24949053 +968-99378351
Talal Al Balushi Head of Brokerage Department talal@u-capital.net +968-24949051 +968-99267286
The Offer Document and Acceptance Form are available on the Muscat Stock Exchange website (www.msx.om) and Ubar Financial Investments SAOC website (www.u-capital.net).