The investment bank announced that the general assembly will discuss the entry of a strategic partner of the bank from the government of Sharjah or one of its bodies, institutions or companies affiliated with a majority stake.

The meeting that will be held on April 10 also includes an increase in the bank’s capital after the approval of the Securities and Commodities Authority and the central bank.

According to the bank’s disclosure in the Abu Dhabi Securities Market, the Sharjah government or one of its affiliates, institutions or companies will enter as a strategic partner for a majority stake by increasing the bank’s capital by issuing 1.592.143 shares in its favor, with a nominal value of one dirham, with a deduction of an issue of 0.30 dirhams per share, so that the amount of 0.70 dirhams will be paid and the nominal value of each issued share will be paid in full.

The authorized capital will be 6.3 billion dirhams after the issuance of the excess shares for the strategic partner, while the issued capital of the company is 3.180.982.143 shares with a nominal value of one dirham per share, all of which Cash shares.

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