For the purpose of strengthening the Company’s balance sheet and support its long term growth , the Board of Directors of National Gas Company SAOG in their meeting held on 4 November 2013, resolved to recommend : - an increase in the issued and paid up share capital of the Company through a rights issue of shares by issuing on a rights basis of 3:2, 20 million shares (the “Rights Shares”) at a price of Bz. 377 (the “Offer Price”) per share including an amount of Bz. 275 as share premium and Bz. 2 as issue expenses, aggregating to RO 7.54 million;. The rights issue shall be subject to receipt of all necessary regulatory approvals as may be necessary. Following the rights issue, the issued and paid-up share capital of the Company will increase by RO. 2 million (i.e. from RO. 3 million to RO 5 million). The record date would be decided by the Board after approvals from CMA. The Board of Directors also unanimously resolved to appoint Oman Arab Bank as the financial advisor and issue manager for the rights issue.