Change of Ownership in Meethaq Sukuk Company SPC
Meethaq Sukuk Company SPC
Subject: Change of Ownership in Meethaq Sukuk Company SPC (the Issuer) under Meethaq Sukuk Al Musharaka Programme of OMR 100 million.
Meethaq Sukuk Company SPC (the Issuer) would like to inform Sukuk holders of Meethaq Sukuk Series 1 and Series 2 that the ownership of the Issuer has changed from a Limited Liability Company (LLC) with two individual shareholders to a Sole Proprietor Company (SPC) with a single shareholder; being Bank Muscat SAOG. Consequently the name of the Issuer has changed from Meethaq Sukuk Company LLC to Meethaq Sukuk Company SPC.
Meethaq Sukuk Company SPC is a Special Purpose Vehicle that has been established as per the Sukuk Regulation issued by the Capital Market Authority (CMA) to act as a Trustee on behalf of the Sukuk holders and as an Issuer on behalf of the Obligor (Meethaq Islamic Banking).
The change in the ownership was implemented to further enhance the rights and interests of the Sukuk holders with all approvals from the relevant authorities obtained.
As per the legal opinion of Meethaq Sukuk Al Musharaka Programme Legal Advisor, the ownership change is neither prejudicial to the rights nor impacts the rights of the existing Sukuk holders of Meethaq Sukuk Series 1 and Series 2.
FOR/ Meethaq Sukuk Company SPC