Qatar Exchange | Gulf Warehousing Company | GULF WAREHOUSING : POTENTIAL ACQUISITION BY COMPANY’S SUBSIDIARY IN A LIMITED LIABILITY COMPANY

 

Gulf Warehousing Company would like to disclose its intention (possible proposal) for an indirect acquisition of a subsidiary of GWC (GWC Chemicals) a fully owned subsidiary of GWC, which intends to acquire Spick and Span Cleaning Services (a limited liability company) at an estimated current rate At 76% of the partners shares for the purpose of expanding the activities of the aforementioned subsidiary.Accordingly, kindly find below GWC (QPSC) disclosure of some of the data mentioned in the same article referred to above regarding the nature of the deal subject to the following disclosure;

  1. The name of the Offeror Company: GWC Chemicals CR No. 47551, It’s headquartered: Qatar Doha, its capital: 200,000 Qatari riyals.
  2. The Offeree Company’s name: Spick & Span Cleaning Services Company LLC, with a capital of 200,000, its headquarter: Doha - Qatar.

3. Proposed percentage of acquisition: The current target percentage of the shares of Spick and Span Cleaning Services - a limited liability company is 76% and the remaining 24% according to the initial evaluation will be completed during the next three years.

4. Purpose of the Acquisition: expanding the activity of GWC Chemicals.

5. Pros, cons and risks of the said acquisition that may result from the completion of the process on the listed company and its shareholders: the amount of acquisition is small and there are no expected risks to the shareholders of the listed company as well as its subsidiary (GWC Chemicals LLC).

It is worth noting that the process is still under evaluation and study in its current state, and it must be noted that GWC will comply to all applicable disclosure and will disclose the details of this acquisition and its developments in accordance with the relevant regulations and laws

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