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First Gulf Bank to issue bonus shares from buyback plan

Posted on 10 January 2011

From Arabianbusiness.com: The First Gulf Bank said on Thursday it plans to distribute 75 million shares bought under its buyback programme as bonus shares, in a move to benefit its shareholders. FGB initiated the share buyback programme in early 2009 to counter poor trading due to weak market sentiment and improve liquidity.
The move is subject to approval by the competent authorities and the annual general meeting, a statement by the bank said……………………………………….Full Article: Source

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