AMMC Grants Approval for CMT's Mandatory Tender Offer
The Moroccan Capital Market Authority (AMMC) has officially approved the mandatory tender offer initiated by AYRAD GROUP LIMITED, in collaboration with OSEAD Fund, OSEAD MAROC MINING, and CIMR (Caisse Interprofessionnelle Marocaine de Retraites), for shares of CMT (Compagnie Minière de Touissit) at a unit price of 2.217 dirhams. Following the submission of the offer, trading in the stock was suspended, but it is expected to resume on September 16.
This announcement comes as part of the regulatory requirements outlined in Article 31 of Law No. 26-03, which governs public offers in the securities market, as amended and supplemented. The AMMC has indicated that the final schedule for the operation, which requires prior validation by the Casablanca Stock Exchange, will be established at a later date. As part of this process, the AMMC has requested the Casablanca Stock Exchange to lift the suspension on the trading of CMT shares, with the resumption date set for September 16, 2026.
In light of this development, the AMMC's approval underscores the regulatory body's commitment to ensuring transparent and fair practices within the capital markets. Investors and stakeholders are encouraged to stay informed about the upcoming changes and the implications for the market.
As reported by lavieeco.com.
