NFC approves merger with Orix Leasing

Muscat: The extraordinary general assembly (EGA) of National Finance Company consensually approved acquisition and merger with Oman Orix Leasing Company, as per the Commercial Companies Law.
The company affirmed in a statement that was published on Muscat Securities Market (MSM) website that the EGA has authorised the board of the merging company to issue new shares - within the limits of the capital of the merging – to the merged companies' shareholders who wish to get shares in place of their shares at the merged entity.
The offered shares will be calculated according to the book value of the share of Oman Orix Leasing against the book value of the share National Leasing Company as per the audited financial statements as on 31st December 2017.
"The EGA authorised the board of directors to take necessary measures and decisions which it may deem appropriate to complete the merger including but not limited to signing all documents, submitting and registering any document with the relevant authorities", the statement added.