Qannas Investments Limited announces an Equity Buyback for 8,414,968 shares, representing 10.77% of its issued share capital, for $7.99 million.

Qannas Investments Limited announces a share repurchase program. Under the offer, the company will repurchase up to 8,414,968 shares, representing 10.77% of its issued share capital, for $7.99 million. The price to be paid for each share under the offer is $0.95 per share, representing 5.6% discount to NAV as of September 30, 2015.

Shares repurchased will be held in treasury by the company. The offer is funded from company's existing credit facility with First Gulf Bank. The record date to participate in the offer is December 2, 2015.

The offer will expire on December 2, 2015.