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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
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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
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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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Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE
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This stat
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Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
16/05/2025
In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental
Kuwait Times
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