Posted on January 07, 2014

Mesaieed Petrochemical Holding Company Q.S.C. (MPHC) provides the following additional clarification to address certain ambiguity that has been circulating in some media and social networking forums:

- Shares of beneficiaries of Emiri grant to the underprivileged:

100% of the shares awarded to the beneficiaries of social security and the underprivileged, as part of the Emiri grant of 750 shares in MPHC, shall be blocked.

- Shares of minors that are not beneficiaries of the Emiri grant to the less fortunate, whose subscriptions are made on their behalf by their parents or legal guardians:

50% of the shares subscribed for on behalf of such minors in the IPO shall be blocked until the minor is of legal age (18 years old). Once the minor is of legal age, he/she is entitled to deal with those blocked shares. As for the remaining 50% of the shares held by a minor, the minor’s guardian is entitled to deal with these shares on the first day of MPHC’s listing.

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- If a minor is still under 18 years old on the date on which he or she receives Incentive Shares under MPHC’s Incentive Shares program (i.e., in 2018 or 2023), such Incentive Shares shall also be blocked until the minor attains the age of 18 years.

For more information, please refer to the MPHC offering prospectus (“Prospectus”). The Prospectus provides extensive details regarding the aforementioned matters.

For any further enquiries please contact MPHC through its social networking pages on twitter and Instagram (mphc_qa) or through its website (www.mphc.qa). 

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