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

Bank Muscat SAOGAnnouncement

01/04/2016 17:31

RNS Number : 6739S
BankMuscat (S.A.O.G)
21 March 2016
Conversion of Mandatory Convertible Bonds
We would like to inform the market that compulsorily convertible bonds (CCBs) issued in 2013 will be converted into common equity shares of the Bank on 20th March 2016 as per the terms of the prospectus. The value of the CCBs being converted is RO. 30.275 million. The price of the conversion will be OMR. 0.337 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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