The shareholders of Shuaa Capital will discuss, on Wednesday, October 14, 2020, the approval of the issuance of non-convertible bonds for shares worth up to 150 million dollars or its equivalent in UAE dirhams.
The company said in a statement to the Dubai Financial Market today, Tuesday, that the General Assembly will consider issuing bonds, either as part of a program or separately in one or more tranches through a private placement through Special purpose company.
The listing of these bonds in a market outside the country (issuance) will be discussed, 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 general decision. For example, but not limited to, preparing the conditions for issuance including the price building process and the necessary schedule for issuance and approval, and concluding and implementing all documents (including any amendments or annexes).
All other steps and procedures that the Council deems necessary or appropriate with regard to issuance will be discussed, and that this is done in accordance with the provisions of Federal Law No. 2 of 2015 regarding commercial companies .
During the meeting, the approval of the amendment and reformulation of articles from the company's articles of association will be discussed in accordance with the provisions of federal law; Concerning the approval of the Public Shareholding Company Governance Manual, and any other decisions issued by the Securities and Commodities Authority in this regard.
