SHUAA Capital PSC

SHUAA Capital psc has announced that nominations for its Board of Directors will be open from 03/04/2024 to 12/04/2024. Interested shareholders who meet the nomination conditions can apply at the company's head office in Dubai. The application should include a resume and the type of membership the applicant is nominating for. The election is for five board members and the nomination period will last for ten days. Candidates must meet the conditions set by Federal Law No (32) of 2021 and the Securities and Commodities Authority. The names of candidates will be posted on the company's website on 20/04/2024.

The text is a formal invitation from the board of directors of Shuaa Capital PSC, a licensed financial investment company based in Dubai, United Arab Emirates, to its shareholders. The invitation is for a general assembly meeting scheduled to take place on April 24, 2024, at the company's headquarters or remotely. The agenda items include approving the appointment of two board members until April 2024, electing board members, appointing auditors for the fiscal year ending December 31, 2024, and deciding their fees, and approving a one-year allowance for board members to carry out competitive or related activities to the company's activities in accordance with Federal Law No. (32) of 2021 on Commercial Companies.

SHUAA Capital has delayed the release of its 2023 financial statements due to ongoing debt restructuring negotiations. The company is in the process of amending the terms of $150 million in outstanding bonds, with the outcome expected to be announced by 5 April 2024. SHUAA is seeking support from noteholders for the restructuring, which would involve a third-party capital injection. The company plans to hold a general assembly of shareholders by the end of April to discuss the next steps.

SHUAA Capital has initiated a consent solicitation to modify the terms and conditions of its USD 150 million outstanding bonds, due on 31 March 2024. The proposal, which has already received support from over 25% of noteholders, is part of SHUAA's broader capital optimisation plans. The company aims to adjust its debt repayment profile and facilitate new capital participation. If bondholders agree to the proposal and regulatory approvals are obtained, SHUAA plans to increase its capital to achieve a sustainable capital structure. The proposal also offers a cash settlement and the chance to participate in the company's equity to noteholders.

SHUAA Capital p.s.c., a financial investment company based in Dubai and regulated by the U.A.E. Securities and Commodities Authority, has announced a Board of Directors meeting set for 1:00 pm on Thursday, 21st March 2024. The agenda for the meeting includes a review of the company's consolidated financial results for the year ended 31st December 2023 and other business-related matters. The information was conveyed by Bachir Nawar, the Chief Legal and Compliance Officer of the company.

SHUAA Capital p.s.c., a financial investment company based in Dubai and regulated by the U.A.E. Securities and Commodities Authority, has informed the Dubai Financial Market about the Board of Directors' resolutions. The company's board has approved the launch of a consent solicitation related to the amendment of terms and conditions for bonds worth $150 million due on March 31, 2024, issued by a SHUAA affiliated special purpose vehicle. The board also addressed other customary business-related matters.

SHUAA Capital p.s.c., a financial investment company licensed by the U.A.E. Securities and Commodities Authority, has its head office in Dubai. The company has announced that its Board of Directors will make resolutions by circulation on March 13, 2024. The resolutions will address the launch of a consent solicitation related to amending the terms and conditions of the bonds, issued by a SHUAA affiliated special purpose vehicle, worth 150 million US dollars due on March 31st, 2024. Other business-related matters of the company will also be discussed. The information was conveyed by Bachir Nawar, the Chief Legal and Compliance Officer of the company.

SHUAA Capital p.s.c., a financial investment company based in Dubai and regulated by the U.A.E. Securities and Commodities Authority, has announced the resignation of its Group Chief Legal and Compliance Officer, Mr. Bachir Nawar. Mr. Nawar has resigned for personal reasons and will serve a notice period of two months, during which he will continue to support the company and ensure smooth continuity of business activities.

SHUAA Capital p.s.c., a financial investment company based in Dubai, held a board meeting where they discussed the progress of their capital structure optimization plan and other business-related matters. They are in conversation with bondholders about potentially extending the bond's maturity date. The company plans to update shareholders on these developments at the Annual General Assembly Meeting in April 2024. The information was relayed by Bachir Nawar, Chief Legal and Compliance Officer of SHUAA Capital.

SHUAA Capital p.s.c., a financial investment company based in Dubai, United Arab Emirates, is licensed and regulated by the U.A.E. Securities and Commodities Authority. The company's board of directors is set to meet at 3:00 pm tomorrow to discuss several agenda items. These include reviewing the developments of a previously announced capital structure optimization plan, discussing the maturity date of bonds issued by a SHUAA-affiliated special purpose vehicle and the possibility of extending the bonds’ maturity date, and addressing other customary business-related matters.