Press releases, Reports & Disclosures for AJMAN BANK PJSC

Ajman Bank PJSC is increasing its share capital via a rights issue, granting existing shareholders as of 14 July 2023, the right to subscribe for newly issued shares. For every 3.952 shares owned, one right is issued, which allows the holder to subscribe to one new share at a price of 1.00 Dirham per new share. These rights can also be sold to other investors during the bank's trading period. The rights issue aims to raise funds to strengthen the bank's capital base and meet capital adequacy requirements. The bank plans to raise up to 550 million Dirhams, increasing its share capital to up to 2.723 billion Dirhams.

On June 16, 2023, Badreldin Eltahir Elmogadam, General Counsel & Board of Directors’ Secretary, sent a letter to Hamed Ahmed Ali, the CEO of Dubai Financial Market. The letter was a follow-up to the approval by Ajman Bank PJSC's general assembly on June 13, 2023, for a capital increase through a rights issue. The bank plans to raise up to AED 550,000,000 by issuing up to 550,000,000 new shares. The letter notified the receipt of the bank's board of directors' approval on June 15, 2023, for the draft invitation to shareholders to subscribe for new shares in the rights issue. The actual invitation was attached and was published and announced on June 16, 2023.