The general assembly of Shuaa Capital approved the recommendation of the Board of Directors to issue non-convertible bonds for shares worth up to $ 150 million / or its equivalent in UAE dirhams / .
According to the Emirates News Agency, the company confirmed in a disclosure that the bonds will be issued, either as part of a program or separately in one or more tranches through a private placement through a related company Special purpose.
Also, these bonds will be listed on a market outside the country / issuance /, and the board of directors will be delegated the necessary powers to implement the procedures for this issue within a period not exceeding one year from the date of the association's decision. Public
and according to the decision of the public, all other steps and procedures that the Council deems necessary or appropriate in relation to issuance will be taken, provided that this is done in accordance with the provisions of Federal Law No. 2 of 2015 regarding Commercial companies.
and the association also agreed during the meeting to amend and reformulate some articles of the company's articles of association in accordance with the provisions of the state's federal law of 2015 regarding commercial companies and the decision of the chairman The Securities Commission No. / 3 / R.M / for the year 2020 regarding the approval of the Governance Manual for Public Joint Stock Companies, and any other decisions issued by the Securities and Commodities Authority in this regard.
