The Securities House company had recently received the assets valuation report prepared by a firm which was appointed to valuate the assets of both companies as of December 31, 2016. And considering that the current financial year 2017 is about to expire, and the length of the time period that have passed since the date of the valuation report referred to above, therefore the company’s management have reached to a conclusion on the importance of updating the valuation in light of the financial statements for the year ended December 31, 2017. In order to reflect a more accurate and fair valuations of the companies’ subject to the merger transaction, that is to serve the best interest of company’s shareholders.
