89YE Lloyds Bk. 43

    RNS Number : 5278J
  BBK (B.S.C.)
  04 December 2008
   






    Re: News item on exchange of Shamil Bank shares with BBK shares 

    Please refer to news of 'merger by way of acquisition; with BBK owning 100% of the issued ordinary shares of Shamil Bank and that the
consideration for this proposed transaction will be the issuance of BBK ordinary shares to Ithmaar Bank; effectively as a share swap.

    We would like to clarify that the Board of Directors of BBK has received a letter from the Board of Directors of Ithmaar Bank proposing
the abovementioned transaction. The Board of Directors of BBK will be studying it and will be deciding in due course on the next step in
this regards. It is important to mention here that such proposals will obviously be subject to the prior approval of the Central Bank of
Bahrain. It will also be subject to other regulatory approvals.
    


 

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