Mesaieed Shareholders Would Lose Incentive Shares if They Trade Blocked Shares, QP Says

Doha, Qatar Petroleum said today that shareholders of Mesaieed Petrochemical Holding Company (MPHC) would lose the right to their free incentive shares if they override the block made on 50% of their shares.

The company released a statement in light of reports that the block made on 50% of each investors’ shares, done to prevent an individual investor from unintentionally or inadvertently forfeiting the right to receive Incentive Shares, has been lifted.

The company gave an example to clarify the mechanism saying that an individual investor who has 1,000 shares and maintains the block on 500 of them (50% of his shares), would get 500 free incentive shares on December 31, 2018 and another 500 shares on December 31, 2023.

QP said that this arrangement for Qatari investors is the first of its kind in the Middle-East. The statement added that the goal of this arrangement was part of the directives of the country’s wise leadership of promoting the value of investment and saving in society.

Source: Qatar News Agency