REG - BankMuscat (S.A.O.G) - Conversion of Mandatory Convertible Bonds <Origin Href="QuoteRef">BMAO.OM</Origin>

Bank Muscat SAOGAnnouncement

20/03/2017 10:30

RNS Number : 9321Z
BankMuscat (S.A.O.G)
20 March 2017
Conversion of Mandatory Convertible Bonds 

We would like to inform the market that compulsorily convertible bonds (CCBs) issued in 2014 will be converted to common equity shares of the Bank on 20th March 2017 as per the terms of the prospectus. The value of the CCBs being converted is RO 31.964 million. The price of the conversion will be OMR. 0.362 and has been calculated at a twenty percent discount to the average closing market price, over the preceding 90 calendar day period prior to the conversion date. We expect that the process of issuance of shares will be completed soon.

This information is provided by RNS
The company news service from the London Stock Exchange
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