SHUAA Capital PSC

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 Mr. Ajit Joshi, MD, Head of Private Markets. Mr. Joshi is leaving his position for personal reasons and will serve a one-month notice period, during which he will continue to support business activities.

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's head office is located in The H Hotel Dubai, Office Tower, Level 15, Office No. 1502. They have announced a board of directors meeting to be held on March 1, 2024. The agenda for the meeting includes a review of the capital structure optimization plan, a discussion on the maturity date of the bonds issued by a SHUAA affiliated special purpose vehicle, and other business-related matters.

SHUAA Capital p.s.c., a financial investment company based in Dubai, held a board meeting where several key issues were discussed and resolved. The discussions included updates on negotiations with creditors and the acceleration of regulatory approvals for a capital optimization plan. The board also approved a request from a major shareholder to call a General Assembly meeting, subject to regulatory approvals, to update shareholders on the company's business and the development of the previously announced capital optimization plan. Other customary business-related matters were also discussed.

SHUAA Capital p.s.c., a financial investment company licensed and regulated by the U.A.E. Securities and Commodities Authority, announced a board meeting on 22nd February 2024. The meeting's agenda includes reviewing the developments of the previously announced capital structure optimization plan and discussing the appropriateness of calling for the General Assembly of the company's shareholders to consider the available options in light of the company's current situation.

SHUAA Capital has announced its preliminary financial results for 2023, revealing full-year revenues of AED 165 million, a 34% increase year-on-year, and an adjusted net operating income of AED 24 million, a 128% increase year-on-year. However, the company also reported a net loss of AED 296 million for Q4 and AED 866 million for the full year due to significant non-cash impairment of legacy assets and one-off charges. The company is now focusing on capital optimisation, planning a reduction in share capital and a subsequent capital increase. SHUAA is also transforming its business model to focus on asset management and investment banking, aiming to complete this process by June 2024.

Shuaa Capital PSC, a financial investment company licensed and regulated by the Securities and Commodities Authority under license number 630307, held a board meeting where the agenda items previously communicated on February 8, 2024, were discussed. The board reviewed the company's financial performance in the previous period and decided to adopt the unaudited and unreviewed preliminary consolidated financial statements for the fiscal year ending December 31, 2023. They also discussed routine matters related to the company's operations and made appropriate decisions.