AN Investment WLL made a voluntary unconditional offer to acquire additional 33.1% stake in Bahrain Middle East Bank B.S.C. (BAX: BMB) for $10.6 million in cash on March 22, 2017. Under the terms of the offer, AN Investment will acquire approximately 80.1 million Bahrain Middle East Bank shares representing 33.1% stake for a cash consideration of $0.1322 per share. In connection with the transaction, the party acting in concert will retain its remaining 23.93% shareholding in Bahrain Middle East Bank until February 20, 2019. Together with the party acting in concert, AN Investment will own 100% stake in Bahrain Middle East Bank. The transaction has a record date of March 29, 2017 for shareholders to be eligible for this offer. The Board has appointed an independent committee discharge the Board of BMB’s responsibilities in relation to the ANI offer. The Independent Committee unanimously recommends that the shareholders of BMB accept the offer. As of March 26, 2017, the offer is unconditional and will be open from April 2, 2017 to April 16, 2017. Jassim Abdulaal, Jatin Karia, Yaser Abbas Salman and Sanat Agarwal of Grant Thornton Abdulaal acted as an accountant for Bahrain Middle East Bank. Karvy Computershare W.L.L. acted as receiving agent and share registrar to AN Investment WLL. Charles Russell Speechlys acted as a legal advisor for Bahrain Middle East Bank.