SHUAA Capital PSC

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.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219, has its main office at The H Hotel, Office Tower, 15th Floor, Office No. 1502, P.O. Box 54013, Dubai, UAE. The company has scheduled a Board of Directors meeting on Wednesday, March 12, 2025, to make decisions regarding transactions with related parties concerning convertible bonds that are planned to be issued soon. The letter is addressed to Mr. Hamid Ahmed Ali, the CEO of Dubai Financial Market, and is signed by Islam Mahrous, the Chief Compliance Officer.

SHUAA Capital Bond 1 Limited announced the indicative and non-binding acceptance amounts for its Exchange Offer concerning its U.S.$150 million 7.50% Notes due on March 31, 2025. The offer invited eligible holders to exchange up to U.S.$75 million of these notes for UAE Dirham-denominated mandatory convertible bonds to be issued by SHUAA Capital psc. The offer expired at 4:00 p.m. London time on February 28, 2025. As of the expiration deadline, valid tenders amounted to U.S.$76,133,000. The indicative and non-binding acceptance amount is U.S.$72,733,000, subject to a pro rata scaling factor of 98.968%. The expected aggregate principal amount of the new bonds to be issued is AED267,111,942.5. Final results will be published after the approval condition is satisfied.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, is headquartered at The H Hotel, Office Tower, 15th Floor, Office No. 1502, Dubai, UAE. The company has a commercial license number 200219 and a regulatory license number 630307. On March 4, 2025, a letter was addressed to Mr. Hamad Ahmed Ali, the CEO of the Dubai Financial Market, informing him that the Board of Directors of Shuaa Capital PSC will make decisions by circulation concerning convertible debt securities to be issued soon. The meeting is scheduled for Friday, March 7, 2025. The letter was signed by Islam Mahrous, the Chief Compliance Officer.

SHUAA Capital Bond 1 Limited has announced an exchange offer for its $150 million 7.50% notes due on March 31, 2025. The offer invites eligible holders to exchange up to $75 million of these existing notes for UAE Dirham-denominated mandatory convertible bonds issued by SHUAA Capital psc. This exchange offer is contingent upon approval from the UAE Securities and Commodities Authority and is subject to the terms outlined in the exchange offer memorandum dated February 19, 2025. The offer period runs from February 19 to February 28, 2025, unless extended or terminated by the issuer. Noteholders participating in the exchange agree to waive any accrued interest on the exchanged notes up to the settlement date.

Shuaa Capital PSC held its postponed general assembly meeting today, where the company's shareholders voted and approved several resolutions. One key decision was to issue mandatory convertible bonds with a total value of 150 million AED. These bonds, referred to as "new investor mandatory convertible bonds," will be issued in accordance with Federal Decree-Law No. 32 of 2021 on Commercial Companies and a decision by the Chairman of the Securities and Commodities Authority. The bonds are intended for professional investors and counterparties and will be mandatorily convertible into new company shares at a conversion price of 0.32 AED per share.

SHUAA Capital P.S.C. is a financial investment company based in Dubai, United Arab Emirates. It is licensed and regulated by the UAE Securities and Commodities Authority under registration number 703036 and holds a commercial license number 200219. The company was established on April 25, 1979, and has an authorized, subscribed, and paid-up capital of AED 2,535,720,000. The Chairman of the Board is Badr Al-Olama, and the Group Chief Executive Officer is Wafik Ben Mansour. Crowe Mak serves as the external auditor. The company's head office is located at The H Hotel Dubai, Office Tower, Level 15, Office No. 1502, with a mailing address of PO Box 31045, Dubai, UAE. Contact details include a telephone number of +971 4 330 3600, a fax number of +971 4 330 3550, and an email address of ir@shuaa.com.

SHUAA Capital has released its preliminary financial results for 2024, showing progress in addressing legacy asset impairments and repositioning for growth. The company reported AED 85 million in commitments for a Mandatory Convertible Bond issuance, part of its capital optimization strategy, expected to conclude by March 2025. Key financials for 2024 include adjusted operating revenues of AED 89 million, driven by asset management fees, and an adjusted net operating loss of AED 11 million due to a temporary revenue reduction during business transformation. The net loss attributable to shareholders was AED 289 million, primarily due to non-cash impairments. Despite challenges, SHUAA Capital's CEO highlighted the year's achievements and positive investor response.