Press releases, Reports & Disclosures for SHUAA Capital PSC

SHUAA Capital has appointed Wafik Ben Mansour as Acting CEO. Ben Mansour, who was previously a Managing Director at Credit Suisse for 15 years, joined SHUAA in May 2023, and will now lead the next phase of the company's capital optimisation process. This strategic leadership transition comes as the company seeks to create a growth platform and capitalise on market opportunities in the UAE and wider region. The former CEO, Fawad Tariq Khan, has stepped down for personal reasons after over a decade with 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 appointment of Mr. Wafiq Ben Mansour as the Acting CEO. The decision was made by the board of directors and communicated to the Dubai Financial Market. The company's head office is located in The H Hotel Dubai, Office Tower, Level 15, Office No. 1502.

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 Chief Executive Officer, Mr. Fawad Tariq Khan. Khan's resignation, due to personal reasons, was effective as of yesterday. He will serve a notice period of three months, during which he will assist in ensuring the smooth continuity of business activities. The announcement was made by Bachir Nawar, the company's Chief Legal and Compliance Officer.

SHUAA Capital p.s.c., a financial investment company based in Dubai, is licensed and regulated by the U.A.E. Securities and Commodities Authority. The company has announced that its Board of Directors will pass a resolution on November 20, 2023, to appoint Mr. Wafik Ben Mansour as the Acting CEO. He will succeed Mr. Fawad Tariq Khan, who resigned from the position.

Shuaa Capital PSC, a licensed financial investment company, has scheduled a teleconference to discuss its financial results for the third quarter of 2023. The teleconference will take place on 14th November 2023 at 3 PM. Interested parties can pre-register for the conference through a provided link. After registration, an invitation with attendance details will be sent via email. A summary of the discussed points will be provided after the conference. The company is located in Dubai, UAE, and regulated by the Securities and Commodities Authority under license number 630307.

SHUAA Capital is proceeding with the next phase of its capital optimisation plan and plans for a rights issue, pending shareholder and regulatory approval. The firm has received support from 93% of noteholders to extend the maturity of its existing $150 million bond until Q1 2024. This is part of SHUAA's strategy to optimise its capital structure through decreasing and subsequently increasing its issued shares. The company aims to use this capital optimisation to support growth, reduce debt, strengthen its balance sheet, and prepare for future dividend distributions. Over the past year, SHUAA has bolstered its core operating business by hiring senior dealmakers and winning new mandates. The company's rights issue details will be disclosed at a future Shareholders’ General Assembly. Houlihan Lokey and Baker Botts are advising SHUAA on the recapitalisation.

SHUAA Capital, a financial investment firm regulated by the UAE Securities and Commodities Authority, has disclosed its intention to increase its capital to optimize its capital structure. A meeting of bondholders, concerning bonds issued by a SHUAA affiliated special purpose vehicle worth 150 million US dollars due on October 28, 2023, has been held. An extension of the bond maturity date until 31 March 2024 was approved by 93% of the attendees. The company has also initiated discussions on the capital increase process to de-gear the balance sheet and position the company for growth, aiming to complete the process by Q1 2024 with the approval of the Securities and Commodities Authority and the company's shareholders.