Dear Client,
With reference to the merger between Al Yah Satellite Communications Company PJSC (“Yahsat”) and Bayanat AI PLC (“Bayanat”), which is scheduled for 1 October 2024, kindly note the below:
1. Effective after the close of trading on Monday, 30 September 2024, Yahsat shares will be de-listed from the Abu Dhabi Securities Exchange (“ADX”). Please click here to learn more.
2. All Yahsat assets and obligations will be transferred to Bayanat in exchange for newly issued Bayanat shares, which will be allocated to Yahsat shareholders as part of this merger.
3. Additionally, on 1 October 2024, Bayanat will change its trading symbol to 'SPACE42'. From 1 October 2024 onwards, the company will continue trading on ADX under this new trading symbol.
Please click here to view the full details of the announcement.
For more information, please contact us at +971 600 52 3434 or email us at enbdsccc@emiratesnbd.com.
