SHUAA Capital PSC

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, has its main office located at The H Hotel, Office Tower, 15th Floor, Office No. 1502, Dubai, UAE. The company has announced that its Board of Directors will make decisions by circulation regarding regular business matters on Friday, March 28, 2025. This information was communicated in a letter addressed to Mr. Hamid Ahmed Ali, the CEO of Dubai Financial Market. The letter was signed by Islam Mahrous, the Chief Compliance Officer.

SHUAA Capital has reached a settlement agreement with a major creditor, marking a significant step in its capital optimization strategy aimed at strengthening its financial base and ensuring sustainable growth. This agreement will positively affect SHUAA's profit and loss statement and balance sheet, resulting in a non-cash profit of AED 36.9 million. SHUAA Capital, established in 1979, is a leading asset management and investment banking platform known for its innovative and global product offerings in public and private markets, debt, and real estate. The company provides a range of asset management and investment banking services and is regulated by the Securities and Commodities Authority.

SHUAA Capital psc reported accumulated losses of AED 1.13 billion for the fiscal year 2024, resulting in an accumulated losses to capital ratio of 44.47%. The losses were primarily due to several factors, including fair value losses from impairments of investments and goodwill, write-offs of receivables linked to UK investments, impairments and write-offs related to legacy real estate assets, valuation adjustments of a company associate's underlying asset, and the recognition of a deferred tax liability following the implementation of corporate tax law in the UAE. Additional losses stemmed from receivables write-offs due to revised land valuations in the UAE, fair value losses from investments in public market securities and managed investments, and accrued coupon related to USD 150 million bonds issued by an affiliated special purpose vehicle.

SHUAA Capital announced its financial results for the fiscal year ending December 31, 2024, highlighting significant progress in addressing legacy asset impairments and repositioning for growth. The company completed capital optimization efforts initiated in Q3 2023, including an exchange offer for USD 150 million Notes and the issuance of AED 274.4 million in Mandatory Convertible Bonds (MCBs) to existing noteholders, with an additional AED 85 million secured from new investors. These bonds will convert to shares at AED 0.32 per share, pending regulatory approval by March 31, 2025. SHUAA Capital aims to focus on sustainable growth and shareholder value. Financially, SHUAA reported a decrease in revenues to AED 88.9 million in 2024 from AED 120.5 million in 2023, with a net loss of AED 299.2 million, an improvement from the AED 906.6 million loss in 2023.

The document is the consolidated financial statements of SHUAA Capital PSC for the year ending on December 31, 2024.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, held a Board of Directors meeting. During this meeting, the board approved the audited consolidated financial statements for the fiscal year ending December 31, 2024, and decided to call for the company's 2024 annual general meeting, pending regulatory approval. The CEO was authorized to take necessary actions in accordance with applicable regulations and laws. Additionally, the board recommended not distributing dividends to shareholders for 2024 and discussed other company-related matters.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, has scheduled a Board of Directors meeting for March 25, 2025, at 2:00 PM. The agenda includes reviewing and approving the audited consolidated financial statements for the fiscal year ending December 31, 2024, considering the convening of the annual general assembly for 2024 pending regulatory approval, and addressing other company-related matters. The communication is addressed to Mr. Hamid Ahmed Ali, CEO of Dubai Financial Market.

Shuaa Capital PSC is a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219. The company's headquarters is located at The H Hotel, Office Tower, 15th Floor, Office No. 1502, P.O. Box 54013, Dubai, United Arab Emirates. They can be contacted via phone at +971 (4) 330 3600 or fax at +971 (4) 330 3550.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, has announced the signing of subscription agreements for new convertible bonds with related parties, totaling AED 85,000,000. The announcement follows a prior disclosure on March 12, 2025, regarding the board's approval of these agreements. The involved parties include Eshraq Investments PJSC, Al Baher Real Estate Development LLC, and United Motors & Heavy Equipment Co. LLC. The company confirmed that these agreements align with the board's decisions. After receiving final approval from the Securities and Commodities Authority on March 10, 2025, Shuaa issued the new convertible bonds on March 18, 2025.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, issued a clarification regarding a disclosure made by Eshraq Investments PSC on March 13, 2025. The disclosure concerned decisions by the board of Shuaa Capital made on March 12, 2025. Shuaa Capital highlighted that on February 10, 2025, it received an irrevocable binding commitment from Eshraq Investments to subscribe to convertible bonds worth 50 million AED. This commitment was formalized in a legally binding letter, and Shuaa Capital disclosed this commitment to the market on the same day. Based on this binding and irrevocable commitment, along with similar commitments from two other investors, Shuaa Capital initiated the necessary regulatory procedures to issue the convertible bonds.