Maridive & Oil Services has named Grant Thorton as independent financial advisor to prepare a fair value report for the company’s share price ahead of a potential USD 37 mn capital increase, the company said in a bourse filing (pdf). UAE-based investor Najjad Zeenni had announced earlier this month his intention to acquire a stake in Maridive worth as much as USD 37 mn. The move would see Zeenni, who currently owns a 25% stake in Valentine, agree to an effective share swap with Maridive, subscribing to the USD 37 mn capital increase at a price of USD 0.61 per share.

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