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07/07/2015 04:10 AST
Shareholders of Renaissance Services have approved the company's Mandatory Convertible Bonds (MCB) buyback scheme and the issuance of perpetual notes to buyback the MCBs at an extraordinary general meeting here on Monday.
Renaissance held meetings with its shareholders and bondholders to discuss a scheme to give holders of its MCBs the option to choose cash instead of shares.
The perpetual notes could be issued both in United States dollar and in Omani rial.
"Renaissance is taking this step because the buyback of MCBs is good for the company's shareholders, MCB holders and for the company. The buyback gives MCB holders the choice to take cash instead of shares and so avoid any risks associated with share price volatility and liquidity," said Samir J. Fancy, chairman of Renaissance Services.
Times of Oman
30/06/2015
Oman's Muscat Securities Market (MSM) resumed trading of Renaissance Services shares on Monday, revoking an earlier trading suspension clamped on Thursday afternoon.
Renaissance Services l
Times of Oman
29/06/2015
Renaissance Services is an Omani multinational firm listed firm on the Muscat Securities Market (MSM), with a strong presence in oil servicing field. The company's chief financial officer (CFO) Visha
Times of Oman
28/06/2015
Topaz Energy and Marine is eyeing expansion into South America in the next two years as the Dubai-based oil services firm looks beyond the current difficulties in the sector caused by the lower oi
Times of Oman
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13/11/2025
Saudi Aramco announced the signing of 28 memorandums of understanding (MoUs) worth more than $1 billion during the 19th Middle East Corrosion Conference and Exhibition, held in Dhahran, eastern Saudi
Asharq Al Awsat
13/11/2025
In a new achievement that confirms the excellence of its human capital strategy, National Bank of Kuwait received two prestigious awards as part of the GCC Government Human Resources and Youth Awards
Kuwait Times
13/11/2025
Abu Dhabi-based NMDC Energy has signed a memorandum of understanding with US energy technology firm Baker Hughes to localize offshore solutions in Saudi Arabia.
The collaboration aims to en
Arab News
13/11/2025
Cementing their commitment and efforts toward enabling and empowering Qatar's SME ecosystem, Commercial Bank and Seib Insurance held a joint online webinar titled: The Safety Net: Identify, Combat &
The Peninsula
13/11/2025
The Qatar Stock Exchange (QSE) index closed lower on Wednesday, declining by 58.37 points, or 0.52 percent, to reach 11,082.40 points.
During the session, a total of 104,275,078 shares were
The Peninsula
Financial Information Co.
Saudi Arabia