Posted on February 14, 2011

Qatar Exchange has received a statement from the Ministry of Economy and Finance, stating that the government is intending to enter into negotiations with the Qatar Company for Meat and Livestock (Mawashi) in order to reach an agreement thereby the government will purchase the whole company.

The statement stated that the government aims through this step at enhancing the performance of the company and expand its activities due to the significant importance of the company's activities in the Qatari society as it is the main provider of meat and livestock.

The statement added that this step is attributed to the company's inability to meet the future needs of the society in terms of quantity and quality.

The statement concluded by saying that a specialized party will be assisted to specify the fair price for the company's shares, adding that if the shares price, in accordance with the assessment results, is less than the share closing price on Wednesday 9 February 2011 amounting to 15.29 QR, the government shall be committed to buy the shares in accordance with their above-mentioned registered value.