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المنامه، البحرين
The Extraordinary General Assembly of Al Seef Real Estate Company, listed on the Bahrain Bourse, scheduled for October 11, 2026, was postponed after the quorum needed to be held could not be completed.
The percentage of shareholders, originality and agency, about 63.34%, to decide the company to set 18 October 2026 a new date for the meeting, at the same place and date.
The meeting was dedicated to a vote on a set of decisions related to the acquisition deal proposed by GFH Financial Group on an additional stake in Al Seef Properties, raising its indirect ownership to about 50.07% of the issued and paid-up capital.
The agenda includes a vote on the sale of 7.687 million shares. Represents 1.67% of the company’s capital
Details of the shares included in the acquisition deal
The agenda includes a vote on the sale of 7.687 million existing shares, representing 1.67% of the company’s capital, to Safe Ekoti Groth Investment.
The proposal also includes the implementation of a program to buy back 13.8 million shares, equivalent to 3% of the capital, to be sold later to the bidder, provided that the approval of the Central Bank of Bahrain is obtained.
The vote also includes the waiver of independent shareholders’ right to receive a mandatory offer to buy the remaining shares, as part of a deal that includes the acquisition of 95.088 million shares with a total value of approximately 17.116 million dinars, and at a price of 180 fils per share.
The company set October 25, 2026 as the third date for the meeting, if the quorum is not completed at the second meeting.
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