The third session of the EGM approved the pending proposal to extend the maturity date of the Company's outstanding convertible notes, issued on 31 October 2007 and subscribed by Dubai Banking Group.
The EGM rejected a second proposal to reconstitute the board of directors of the Company, on the basis of DBG's request that no specific individuals were proposed for membership at this time and the Board as a whole is due for re-election at the Company's Annual General Meeting, to be held later in the month. The Chairman, Majid Saif Al Ghurair, announced the Board's decision to convene the Company's Annual General Meeting on 29 March 2009.
An extraordinary meeting has also been called to coincide with the AGM. The EGM will consider amendment of the Company's Articles of Association to introduce proposed corporate governance provisions recommended by ESCA for UAE companies generally, and other matters.
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Shuaa Capital EGM resolves pending proposals Board calls for AGM and EGM on 29 March 2009
- United Arab Emirates: Monday, March 02 - 2009 at 10:36
- PRESS RELEASE
Shuaa Capital, the leading financial services institution in the GCC, announced the results of its extraordinary general meeting held today at Jumeirah Emirates Towers.
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About Shuaa Capital psc:Shuaa Capital psc maintains a leadership position in Investment Banking, Asset Management, Brokerage, Private Equity, Finance, Principal Investments and Research. Headquartered in Dubai, in the United Arab Emirates, Shuaa Capital has a regional presence with offices in Abu Dhabi, Riyadh, Doha, Cairo, Beirut and Istanbul.
Embedded in the dynamic economic environment of the Gulf Cooperation Council (GCC), Shuaa Capital provides a broad range of financial services to corporations, governments, institutional clients, and high net worth individuals. Since 1979, Shuaa Capital has played a prominent role in shaping the financial services landscape of the GCC and will continue to be at the vanguard of regional integration into global financial markets.
For further information contact:
Oliver C. Schutzmann
Head of Investor Relations & Corporate Communications
Shuaa CAPITAL psc
Level 2, West Wing, The Gate Building
Dubai International Financial Center
P.O. Box 31045, Dubai - UAE
Tel: +971 4 3651 872
Fax: +971 4 3303 550
Mob: +971 506405722
Tarek S. Fleihan
Senior Associate - Investor Relations & Corporate Communications
Shuaa CAPITAL psc
Level 2, West Wing, The Gate Building
Dubai International Financial Center
P.O. Box 31045, Dubai - UAE
Tel: +971 4 3651 874
Fax: +971 4 3303 550
Mob: +971 505198511
Pager: +971507080571
Posted by Nadeen El AjouMonday, March 02 - 2009 at 10:36 UAE local time (GMT+4)
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