MANAMA: United Gulf Bank (UGB), a Bahrain-based wholesale bank, will seek shareholders’ approval for the proposed corporate reorganisation of UGB, including an offer from United Gulf Holding Company (UGHC), for the purchase of 100 per cent share capital of UGB at an extraordinary general meeting (EGM) on September 25.
UGHC has offered to issue one new share for every two UGB shares, subject to regulatory approvals .