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With reference to the abovementioned subject, and the CMA regulations issued on November 9, 2015, book number ten”disclosure and transparency on the disclosure of material information”. A merge is planned to take place between Al Waseet Financial Business Co. & Al Seef Financial Brokerage Co. according to the preliminary agreement between both companies. Accordingly, a request has been sent on 21/3/2016 to Ministry of Commerce & Industry according to the mergers and Acquisitions instructions of CMA. Please note that NIC & its clients own various percentages in both companies and we will disclose in the future regarding the details of the deal after regulatory approvals. Financial impact is not yet known and will be disclosed at a later stage.

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