Watani Financial Brokerage Company announced the completion of the formal publication of the Extraordinary General Assembly resolutions for both NBK Capital K.S.C. (Closed) (“NBK Capital”) and NBK Financial Brokerage Company K.S.C. (Closed) (“NBK Brokerage”), in connection with the merger by amalgamation of the two entities.

This announcement is in accordance with Article (2-4) of Module Nine (Mergers & Acquisitions) of the Executive Regulations of Law No. 7 of 2010 regarding the establishment of the Capital Markets Authority and the regulation of securities activities, and its subsequent amendments.

The commercial registry has now been updated to reflect NBK Capital as the merging entity, and NBK Brokerage as the merged entity, following the expiration of the creditors’ objection period as per Article (258) of Law No. 1 of 2016 regarding the issuance of the Companies Law and its Executive Regulations and amendments.

The company noted that the transfer of all assets and liabilities from NBK Brokerage (the merged entity) to NBK Capital (the merging entity) will commence upon receiving final approval from the Capital Markets Authority for the execution of the merger, in accordance with Annex 1 of Module Nine (Mergers & Acquisitions) of the Executive Regulations of Law No. 7 of 2010 and its amendments.