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.
In this regard, Ithmaar’s shareholders approved the proposed transaction during an Extraordinary General Meeting (EGM) held on Wednesday, 29th May 2024. The shareholders also authorized the Board of Directors to negotiate and agree the final structure, terms and documents of the proposed transaction. On the other hand, GFH considers the transaction in the due diligence stage, and shareholders will be informed of any further developments on regular basis
