I refer to the article entitled ‘Takeover bid on Fimbank at $0.1348 per share premium’ (December 12). I would like to highlight inaccuracies in the article that ought to be rectified.

Fimbank is the target company in this takeover bid, as such it is Fimbank’s shareholders and not Fimbank that have until January 20, 2014 to accept the joint bid issued by United Gulf Bank (UGB) and Burgan Bank (Burgan).

I would also like to point out that that this would not ‘necessarily’ make them sole shareholders of Fimbank as indicated in the article in question. UGB and Burgan are, in fact, seeking to have a controlling interest in the bank.

Furthermore, Burgan acquired 24.49 per cent and UGB 12.56 per cent in June 2013 and not in June 2012, as stated.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.