Press releases, Reports & Disclosures for SHUAA Capital PSC

SHUAA Capital psc reported accumulated losses of AED 916 million for Q1 2024, representing 36.12% of its capital. The losses stem from several factors, including fair value losses due to impairments in investments, goodwill, and receivable write-offs related to its UK investments and legacy real estate assets. Additional losses were due to valuation adjustments of an associate’s underlying asset, the recognition of a deferred tax liability following the implementation of corporate tax law in the UAE, and write-offs from revised land valuations in the UAE. Fair value losses from investments in public market securities and managed investments also contributed. To address these accumulated losses, SHUAA Capital has initiated capital optimization measures. The company has secured an agreement with noteholders to amend the terms of its USD 150 million bonds, issued by an affiliated special purpose vehicle (SPV). This agreement allows bondholders to convert a portion of their bonds into equity through the issuance of Mandatory Convertible Bonds (MCB), with any remaining bonds potentially being settled at a discount in cash.

SHUAA Capital PSC and its subsidiaries have released their condensed consolidated interim financial information for the period from January 1, 2024, to March 31, 2024.

Shuaa Capital PSC, headquartered at The H Hotel, Office Tower, 15th Floor, Office No. 1502, P.O. Box 54013, Dubai, UAE, is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. On July 16, 2024, Shuaa Capital's Board of Directors made decisions by circulation, including the approval of the company's consolidated and reviewed financial statements for the period ending March 31, 2024, and other company-related matters. The communication was addressed to Mr. Hamad Ahmed Ali, CEO of Dubai Financial Market. The notice was signed by Islam Mahrous, Chief Compliance Officer.

Shuaa Capital PSC, headquartered at The H Hotel, Office Tower, 15th Floor, Office No. 1502, P.O. Box 54013, Dubai, UAE, is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. On July 10, 2024, Shuaa Capital informed Mr. Hamad Ahmed Ali, CEO of Dubai Financial Market, that the company's Board of Directors will make decisions by circulation on Tuesday, July 16, 2024. The agenda includes the approval of the consolidated and audited financial statements for the period ending March 31, 2024, and other company-related matters. The notice was signed by Islam Mahrous, the Chief Compliance Officer.

شعاع كابيتال ش.م.ع.، وهي شركة استثمار مالية مرخصة وخاضعة لرقابة هيئة الأوراق المالية والسلع في الإمارات العربية المتحدة، أعلنت عن تعيين السيدة روبيرتا كريس في منصب رئيس الدائرة القانونية اعتباراً من تاريخ 1 يوليو 2024.

Shuaa Capital PSC held its annual general meeting on June 28, 2024, at 10:00 AM. During the meeting, shareholders voted and approved several ordinary resolutions: 1. Approval of the Board of Directors' report on the company's activities and financial position for the fiscal year ending December 31, 2023. 2. Approval of the auditor's report for the fiscal year ending December 31, 2023. 3. Approval of the company's balance sheet and profit and loss account for the fiscal year ending December 31, 2023. 4. Approval of the Board of Directors' proposal not to distribute cash dividends for the fiscal year ending December 31, 2023. 5. Approval to discharge the following Board members from liability for the fiscal year ending December 31, 2023: - Fadel Al Ali - Andre Sayegh - Morshed Al Redaini

شعاع كابيتال ش.م.ع، وهي شركة استثمار مالية مرخصة وخاضعة لرقابة هيئة الأوراق المالية والسلع، أعلنت أن مجلس إدارتها قد وافق على قرارات متعلقة بأعمال الشركة. المكتب الرئيسي للشركة يقع في فندق "ذا إتش"، برج المكاتب، الطابق 15، مكتب رقم 1502، دبي، الإمارات العربية المتحدة.

Shuaa Capital PSC, headquartered at The H Hotel, Office Tower, 15th floor, Office No. 1502, P.O. Box 54013, Dubai, UAE, is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. The company has announced that its Board of Directors will make decisions by circulation regarding company matters on Friday, June 14, 2024. This information was communicated to Hamed Ahmed Ali, CEO of the Dubai Financial Market, by Islam Mahrous, Chief Compliance Officer.