GFH Financial Group B.S.C. (“GFH”) and Ithmaar Holding B.S.C. (“Ithmaar”) would like to update the shareholders that they are continuing discussions for GFH to acquire Ithmaar’s financing and investment portfolios.
Discussions are in progress to finalize and agree on the transaction structure and definitive documents. Further, Ithmaar is in process of arranging an Extraordinary General Meeting (EGM) for purpose of shareholders’ approval. The discussions are subject to due diligence and regulatory approvals. Shareholders will be informed of any further developments on regular basis.