SHUAA Capital PSC

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.

SHUAA Capital p.s.c., a financial investment company licensed and regulated by the U.A.E. Securities and Commodities Authority, has announced that a meeting of its Board of Directors will take place on Sunday, 29th October 2023 at 4:30 pm. The meeting will focus on reviewing the developments on the capital structure optimization plan and discussing other matters related to the company's business operations. The information was conveyed by Bachir Nawar, the Chief Legal and Compliance Officer of SHUAA Capital.

The main office of Shuaa Capital PSC is located at The H Hotel, Office Tower, 15th Floor, Office No. 1502, P.O.Box 54013, Dubai, United Arab Emirates. It is a financial investment company licensed and regulated by the Securities and Commodities Authority under license number 630307, with a commercial license number 200219. The CEO is Hamed Ahmed Ali. The company has recently taken decisions to increase its capital. It has also announced that it will issue convertible bonds to increase the company's capital and provide liquidity to bondholders by October 2023. The company has preliminary agreements with approximately 40% of bondholders for the exchange and conversion process. The company will continue to inform its shareholders about the progress of these operations and its renewed strategy for future operations.

SHUAA Capital has received initial approval from its board to increase its share capital through a Rights Issue. This move is part of a new strategy to reposition the company for growth and will be preceded by a capital reduction and exchange offer to noteholders of its bond maturing in October 2023, subject to further approvals. The capital optimisation aims to improve profitability, reduce debt, prepare the company for future dividend distributions, and increase shareholder participation and liquidity. The process is expected to be completed by the end of the year, pending necessary approvals. Houlihan Lokey is advising on the recapitalisation, while Baker Botts is the appointed Legal Adviser.

Shuaa Capital PSC is a financial investment company based in Dubai, UAE, licensed and regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. The company's main office is located in "The H" Hotel, Office Tower, 15th Floor, Office No. 1502, Dubai, UAE. The CEO of the company is Mr. Hamed Ahmed Ali. A board meeting was held on October 6, 2023, where several decisions were made. The company plans to offset anticipated losses by reducing capital in conjunction with increasing capital through the issuance of preferential rights, subject to obtaining shareholder and regulatory approvals. The company also decided to appoint legal and financial advisors to implement the above recommendations and discussed other matters related to the company's operations.