SHUAA Capital PSC

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, announced the activation of an increase in its capital following the approval from its general assembly meeting on February 17, 2025. This increase results from the mandatory conversion of bonds into shares. The company has completed all requirements for the capital increase from the regulatory authority. The activation date for the capital increase on the Dubai Financial Market is April 11, 2025, after trading hours, and trading on the new shares will begin on April 14, 2025. The capital will increase from AED 2,535,720,000 to AED 3,659,022,945, marking a 44.3% increase.

SHUAA Capital (PJSC) has announced the opening of nominations for its Board of Directors from April 3 to April 13, 2025. Shareholders who meet the eligibility criteria can apply for board membership by submitting a brief resume and specifying the type of membership they are seeking (executive/non-executive or independent/non-independent) to the company's management at their Dubai office. Two board positions are available, and nominations are open for 10 days as per the guidelines set by the Securities and Commodities Authority. Candidates must meet the conditions outlined in Federal Law No. 32 of 2021, the company’s Articles of Association, and other relevant regulations. Required documents must accompany the application, and candidates cannot transfer their nomination rights after the nomination period closes. Candidate information will be posted on the company’s website and office bulletin board on April 21, 2025, and the list will be submitted to the Securities and Commodities Authority and Dubai Financial Market.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219, is headquartered in Dubai, UAE. The company's board of directors invites shareholders to attend the annual general meeting on Thursday, April 24, 2025, at 3:00 PM. The meeting will take place at the company's premises on the 32nd floor of Al Khatem Tower, Al Maryah Island, Abu Dhabi, with an option for shareholders to participate electronically. The agenda includes a special resolution to amend Article 17 of the company's articles of association to increase the number of board members from five to seven. Ordinary resolutions include reviewing and approving the board of directors' report on the company's activities and financial position for the fiscal year ending December 31, 2024, and the auditor's report for the same period.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, has its headquarters at The H Hotel, Office Tower, 15th Floor, Office No. 1502, Dubai, UAE. The company recently informed Mr. Hamid Ahmed Ali, the CEO of the Dubai Financial Market, that its Board of Directors approved several resolutions through circulation. These include the adoption of the company's integrated annual report for 2024, which includes the governance report, and the approval to increase the company's capital by issuing 1,123,302,945 new shares at a conversion price of 0.32 AED per share. This increase results from the conversion of mandatory convertible bonds, and the new shares will be listed on the Dubai Financial Market. Other company-related matters were also addressed. The notice was signed by Islam Mahrous, the Chief Compliance Officer.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, has its main office located at The H Hotel, Office Tower, 15th Floor, Office No. 1502, Dubai, UAE. The company has announced that its Board of Directors will make decisions by circulation regarding regular business matters on Friday, March 28, 2025. This information was communicated in a letter addressed to Mr. Hamid Ahmed Ali, the CEO of Dubai Financial Market. The letter was signed by Islam Mahrous, the Chief Compliance Officer.

SHUAA Capital has reached a settlement agreement with a major creditor, marking a significant step in its capital optimization strategy aimed at strengthening its financial base and ensuring sustainable growth. This agreement will positively affect SHUAA's profit and loss statement and balance sheet, resulting in a non-cash profit of AED 36.9 million. SHUAA Capital, established in 1979, is a leading asset management and investment banking platform known for its innovative and global product offerings in public and private markets, debt, and real estate. The company provides a range of asset management and investment banking services and is regulated by the Securities and Commodities Authority.

SHUAA Capital psc reported accumulated losses of AED 1.13 billion for the fiscal year 2024, resulting in an accumulated losses to capital ratio of 44.47%. The losses were primarily due to several factors, including fair value losses from impairments of investments and goodwill, write-offs of receivables linked to UK investments, impairments and write-offs related to legacy real estate assets, valuation adjustments of a company associate's underlying asset, and the recognition of a deferred tax liability following the implementation of corporate tax law in the UAE. Additional losses stemmed from receivables write-offs due to revised land valuations in the UAE, fair value losses from investments in public market securities and managed investments, and accrued coupon related to USD 150 million bonds issued by an affiliated special purpose vehicle.

SHUAA Capital announced its financial results for the fiscal year ending December 31, 2024, highlighting significant progress in addressing legacy asset impairments and repositioning for growth. The company completed capital optimization efforts initiated in Q3 2023, including an exchange offer for USD 150 million Notes and the issuance of AED 274.4 million in Mandatory Convertible Bonds (MCBs) to existing noteholders, with an additional AED 85 million secured from new investors. These bonds will convert to shares at AED 0.32 per share, pending regulatory approval by March 31, 2025. SHUAA Capital aims to focus on sustainable growth and shareholder value. Financially, SHUAA reported a decrease in revenues to AED 88.9 million in 2024 from AED 120.5 million in 2023, with a net loss of AED 299.2 million, an improvement from the AED 906.6 million loss in 2023.

The document is the consolidated financial statements of SHUAA Capital PSC for the year ending on December 31, 2024.