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Pioneers says Beltone Capital not included in negotiation....
Released on - Thursday,05 November , 2009 -10:58 30
Arab Finance: Pioneers Holding (PIOH) negotiation with Belton Financial Holding - (BTFH) to acquire a stake (in Beltone) do not include any share of Beltone direct investment arm “Beltone capital investment”, Almal newspaper reported today.
It added that current negotiation is limited to Beltone brokerage activities, financing consultations and portfolio and funds management.
It is notable that, Pioneers has early announced initial negotiation with Beltone but there is no agreement reached yet.
Pioneers announcement came in accordance with article No. 25 of listing and delisting regulations, which stipulate companies’ commitment to reveal any news even though it is still in negotiation phase.
Source: Almal newspaper