Acquisition | AL YAH SATELLITE COMMUNICATI | 1st October 2024
At the annual general assembly of AL YAH SATELLITE COMMUNICATIONS held on April 25, 2024, shareholders voted and approved the special resolution regarding the proposed merger of the AL YAH SATELLITE COMMUNICATIONS and BAYANAT AI PLC to be effected by way of a merger through the issuance of 0.897821 new BAYANAT AI PLC shares for every one share in AL YAH SATELLITE COMMUNICATIONS. The shares of AL YAH SATELLITE COMMUNICATIONS will delist from ADX First Market under the trading symbol YAHSAT with effect after the end of the trading session on September 30, 2024.
The treatment below will be applied to the following indices:
- AL YAH SATELLITE COMMUNICATI will be removed from the Index.
- The weight of AL YAH SATELLITE COMMUNICATI (YAHSAT.AD) based on its last close price will be distributed pro rata to remaining Index constituents.
- Effective Date (open): 01/10/2024
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- AL YAH SATELLITE COMMUNICATI will be removed from the Index.
- The shares of BAYANAT AI PLC (BAYANAT.AD) will be increased according to the stock terms of the transaction.
- Effective Date (open): 01/10/2024
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