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Batelco becomes the Majority Shareholder of Dhiraagu

3rd April 2013

The transaction between Cable & Wireless Communications Plc (“CWC”) (majority shareholders of Dhivehi Raajjeyge Gulhun Plc (“Dhiraagu”)) and Bahrain Telecommunications Company (“Batelco”) for the sale of CWC’s majority of assets in its Monaco & Islands business unit has been completed today.

“We are delighted that we will now have the opportunity to support Dhiraagu, as one of its key shareholders, maintain its market leadership in the Maldives. We believe in delivering innovation through new technologies and services, always improving the way we support our customers and listening to their feedback and being a socially responsible employer by respecting and contributing to the communities we live in” stated Shaikh Mohamed bin Isa AlKhalifa, Batelco Group CEO.

With the completion of the transaction, 52% (majority shareholding) of Dhiraagu will now be held by Batelco with the Board of Directors of Dhiraagu being reconstituted as follows:

Mr. Ibrahim Athif Shakoor (Chairperson and Government Director) 
Ms. Idham Hussain
(Government Director)
Shaikh Mohamed bin Isa AlKhalifa (Batelco Director)
Mr. Ibrahim Shareef Mohamed (Independent Director)  
Mr. Marco Regnier
(Batelco Director)
Dr. Ghassan Murad 
(Batelco Director)
Mr. Ismail Waheed 
(CEO & Managing Director)
 
Issued by:
Dhiraagu Investor Relations
3 April 2013

For information:
Maryam Manal Shihab
Company Secretary / Manager Investor Relations
Phone: 3311775
Email: manal@dhiraagu.com.mv

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