Disclosure regarding acquisition of business

30/05/2013 09:10 AST

Pursuant to our earlier disclosure, our Directors are pleased to inform you that Al Fajar Al Alamia Co SAOG has successfully completed the acquisition of 99% of share capital of Al Musdaq Modern Trading LLC with 1% being held by the Chairman Mr Saleem Al Zawawi (on behalf of Al Fajar Al Alamia SAOG), with effect from 1st Jan 2013, as per the Share Purchase Agreement dated 29 May 2013. The total value of the acquisition was RO 2,700,000 (two million and seven hundred thousand Rials Oman).

In this regard, we would like to confirm that the financials of Al Musdaq Modern Trading LLC for the period 1st Jan 2013 to 30th June 2013 will be consolidated and reflected in the consolidated accounts of Al Fajar Al Alamia Co SAOG as of 30th June 2013.

Our Directors are pleased to inform you that there will be a positive impact on Al Fajar Al Alamia SAOG financials as a result of the above consolidation.


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