BHBNewsLetter JUNE2017

4 / 10

4
Issue 13 - SEPTEMBER 2017
According to the agreement, the
shares of United Gulf Holding
Company will be traded as of
Thursday, 28th of September 2017
under the trading symbol (UGH)
in the regular market under the In-
vestment Sector, according to the
procedures followed in the market.
According to the second agree-
ment, Bahrain Clear will provide
United Gulf Holding Company
with a variety of services that in-
cludes maintaining a record of the
share register that holds the shares
in electronic form, and updating
the data of the registry resulted
from dealing on the company’s
shares in accordance with the rules
and regulations of Bahrain Bourse.
In addition, Bahrain Clear will
provide United Gulf Holding
Company with online services
that include real-time shareholding
confirmations with the percentage
of investors’ holdings’ dealings,
investors’ account statements,
and other periodical reports.
UGH is a Bahraini Sharehold-
ing Company (Public), recently
incorporated in the Kingdom of
Bahrain to own the entire share
capital of the Bank which will
continue to operate under its ex-
isting banking license and, on the
other hand, the investment assets
(and certain liabilities) will be
transferred from the UGB to UGH.
UGH has acquired 100% share cap-
ital of UGB (net of treasury shares),
in consideration for newly issued
shares of UGH at an exchange ra-
tio of one newly issued UGH share
for every two UGB shares, post
fulfillment of regulatory approvals
from the Central Bank of Bahrain.
BAHRAIN BOURSE LISTS UNITED GULF HOLDING COMPANY POST
100% ACQUISITION OF THE LISTED SHARES OF UNITED GULF BANK
AND ASSIGNS BAHRAIN CLEAR AS A SHARE REGISTRAR (CONTINUED)
Bahrain Bourse (BHB) and Se-
curities & Investment Company
(SICO) signed on Monday 21st
August 2017 an agreement to
appoint SICO as an Authorized
Sponsor in Bahrain Investment
Market (BIM), an innovative
equity market for growth com-
panies in Bahrain and the wider
MENA region. The agreement was
signed by the Chief Executive Of-
ficer of Bahrain Bourse, Shaikh
Khalifa bin Ebrahim Al Khalifa
and the Chief Executive Officer
of SICO, Mrs. Najla Al-Shirawi.
The agreement with SICO has
added one more key partner to
SICO APPOINTED AS AUTHORIZED SPONSOR ON BAHRAIN
INVESTMENT MARKET
the cornerstone of support that
BIM offers businesses and enter-
prise investors looking to estab-
lish and grow their presence in
the region. In addition to access
to capital, listed companies will
benefit from specialized advisory
services in multiple sectors and
the implementation of globally
accepted standards for financial au-
diting and reporting statements as
mandated by the BIM. Authorized
Sponsors play an integral advisory
role to all new clients in ensuring
all pre-listing requirements and
post-listing documentation and
disclosures are continuously met.
Headquartered in the Kingdom of
Bahrain, and with a growing re-
gional presence and international
footprint, SICO is one of the pre-
mier wholesale banks in the GCC
region. SICO provides a select
range of investment banking solu-
tions – brokerage, market making,
treasury, asset management, cor-
porate finance, and custody and
fund administration – which are
underpinned by an independent,
value-added research capability.
SICO has a long and successful
track record in organizing, man-
aging and arranging primary
and secondary offerings on BHB.
Bahrain Investment Market’s part-
nership with SICO follows similar
tie-ups earlier this year with well-
known specialized advisory firms,
KPMG, Keypoint, & BDO Jawad
Habib. The increasing network of
authorized sponsors that BIM is
partnering with have significant-
ly enhanced the options available
for prospective companies inter-
ested in listing on Bahrain Invest-
ment Market. For the authorized
sponsors (specialized advisory
firms), the benefits include be-
ing associated and authorized
by a licensed exchange, as well
as access to dynamic companies.