SHUAA Capital PSC

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.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, held a Board of Directors meeting. During this meeting, the board approved the audited consolidated financial statements for the fiscal year ending December 31, 2024, and decided to call for the company's 2024 annual general meeting, pending regulatory approval. The CEO was authorized to take necessary actions in accordance with applicable regulations and laws. Additionally, the board recommended not distributing dividends to shareholders for 2024 and discussed other company-related matters.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, has scheduled a Board of Directors meeting for March 25, 2025, at 2:00 PM. The agenda includes reviewing and approving the audited consolidated financial statements for the fiscal year ending December 31, 2024, considering the convening of the annual general assembly for 2024 pending regulatory approval, and addressing other company-related matters. The communication is addressed to Mr. Hamid Ahmed Ali, CEO of Dubai Financial Market.

Shuaa Capital PSC is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. The company's headquarters is located at The H Hotel, Office Tower, 15th Floor, Office No. 1502, P.O. Box 54013, Dubai, United Arab Emirates. They can be contacted via phone at +971 (4) 330 3600 or fax at +971 (4) 330 3550.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, has announced the signing of subscription agreements for new convertible bonds with related parties, totaling AED 85,000,000. The announcement follows a prior disclosure on March 12, 2025, regarding the board's approval of these agreements. The involved parties include Eshraq Investments PJSC, Al Baher Real Estate Development LLC, and United Motors & Heavy Equipment Co. LLC. The company confirmed that these agreements align with the board's decisions. After receiving final approval from the Securities and Commodities Authority on March 10, 2025, Shuaa issued the new convertible bonds on March 18, 2025.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, issued a clarification regarding a disclosure made by Eshraq Investments PSC on March 13, 2025. The disclosure concerned decisions by the board of Shuaa Capital made on March 12, 2025. Shuaa Capital highlighted that on February 10, 2025, it received an irrevocable binding commitment from Eshraq Investments to subscribe to convertible bonds worth 50 million AED. This commitment was formalized in a legally binding letter, and Shuaa Capital disclosed this commitment to the market on the same day. Based on this binding and irrevocable commitment, along with similar commitments from two other investors, Shuaa Capital initiated the necessary regulatory procedures to issue the convertible bonds.

SHUAA Capital Bond 1 Limited announced the final results of its exchange offer for its $150,000,000 7.50% notes due on March 31, 2025. The offer invited eligible noteholders to exchange up to $75,000,000 of these notes for UAE Dirham-denominated mandatory convertible bonds issued by SHUAA Capital psc. The offer expired on February 28, 2025, and by that deadline, $76,133,000 in notes were tendered for exchange. The issuer decided to accept $74,733,000, subject to a pro rata scaling factor of 98.968%. The approval condition was satisfied on March 10, 2025, and the expected settlement date for the exchange, including the delivery of the new bonds, is March 18, 2025.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, announced that its Board of Directors has approved several resolutions via circulation. These include agreements with related parties for the subscription of convertible bonds to be issued by the company, subject to final approval by the Securities and Commodities Authority. The agreements involve: 1. Eshraq Investments PSC subscribing to convertible bonds worth AED 50 million. 2. Al Baher Real Estate Development LLC subscribing to convertible bonds worth AED 25 million. 3. United Motors & Heavy Equipment Co. LLC subscribing to convertible bonds worth AED 10 million. The total value of the new convertible bonds to be issued is AED 85 million.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, has made several board decisions. These include approving the expected issuance size of convertible bonds, pending final adjustments and approval from the Authority. The issuance involves AED 267,111,942.50 for current bondholders and between AED 85,000,000 and AED 150,000,000 for new investors. The expected issuance date for the convertible bonds is on or before March 18, 2025, subject to final approval. Other company-related matters were also addressed.