Al Anwar Holdings to divest share in Nabil Biscuits

Al Anwar Holdings informed Muscat Securities Market (MSM) that it is in the process of entering into a binding share purchase and sale agreement (SSPA) with a potential buyer for sale of 289,197 shares (28.92% stake) of National Biscuits(NABIL) @ RO5.632 per share, with total cash consideration value of RO1.629.

The execution of this transaction is subject to receiving the relevant approval from the Capital Market Authority (CMA) and other regulatory approvals.

This transaction will have a positive impact on AAH’s Profit and Loss Account for FY2018-19 of around RO144,000.

The sale proceeds from this transaction shall be utilized towards partial debt repayment and making opportune investments going forward.