Abu Dhabi: National Bank of Abu Dhabi PJSC (NBAD) announced on Sunday that its merger with First Gulf Bank PJSC (FGB) has become effective on the close of trading on 30 March 2017 (the Effective Date) following the publication of the merger Certificate issued by the Securities and Commodities Authority.
The market regulator has approved the increase in the share capital of NBAD and the amendments to its Articles of Association, the dissolution of FGB and the transfer of its rights and assets and liabilities to NBAD.
New NBAD ordinary shares of 5,643,000,000 have been issued to those shareholders of FGB who appeared on the share register of FGB immediately before the Effective Date. The new number of outstanding NBAD ordinary shares following the capital increase is 10,897,545,318.
FGB has been dissolved and its assets and liabilities have been transferred to NBAD in accordance with the provisions of Federal Law No. 2 of 2015 concerning Commercial Companies and the merger agreement and the Certificate.
The new NBAD ordinary shares have been listed and admitted to trading on the Abu Dhabi Securities Exchange (ADX). Shareholders will be able to trade their new shares from today.
