The company successfully settles its debt owed to Gulf Bank against amounting to KD 1.7 million in exchange for cash payment and the sale of 166.6 million shares of its investment in Gatehouse Bank plc (equivalent to 1.1% of the bank’s share capital) to Gulf Bank at a price of 2.39 pence per share. This sale results in the recognition of a net gain of approximately KD 1.1 million.
