VOL. XLV

No 25

24-June-2002

BAHRAIN

ARIG Plans ToRecapitalize

Bahrain-based Arab Insurance Group (ARIG) said that anextraordinary general shareholders meeting will be held on 2 July to approve arecapitalization plan which is aimed at improving the companys financialstrength. Once approved the process will start immediately and shares will bereduced from the current 360mn to 150mn through their cancellation and thenre-issuance at a ratio of five new shares for every 12 old shares. ARIG willthen...