March 20, 2018 / 10:38 AM / a month ago

BRIEF-Bank Muscat Updates on Conversion of Mandatory Convertible Bonds

March 20 (Reuters) - BANK MUSCAT:

* SAYS COMPULSORILY CONVERTIBLE BONDS ISSUED IN 2015 WILL BE CONVERTED TO COMMON EQUITY SHARES OF BANK ON MARCH 19 AS PER TERMS OF PROSPECTUS‍​

* SAYS VALUE OF CCBS BEING CONVERTED IS 32.416 MILLION RIALS

* SAYS PRICE OF CONVERSION WILL BE BAIZA 0.316 AND HAS BEEN CALCULATED AT A TWENTY PERCENT DISCOUNT TO AVERAGE CLOSING MARKET PRICE, OVER PRECEDING 90 CALENDAR DAY PERIOD PRIOR TO CONVERSION DATE Source:(bit.ly/2HOADeM) Further company coverage:

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