RAK Properties share registration under process

Mohammed Al Qadi, Managing Director, RAK Properties, said "As promised earlier, RAK Properties is working towards the completion of the share registration process for all transactions that took place between the allocation period and September12th. This process will facilitate the listing of the company's shares on the Abu Dhabi Securities Market by the end of September. We are committed to maximising our shareholder's value".

The registration is a primary step in the process of listing the company's share on the Abu Dhabi Securities Market that is due the last week of September. To facilitate this process, an agreement had been reached with the registrar bank, National Bank of Abu Dhabi to accept deed transfer applications through the Abu Dhabi Financial Services Company (Broker Company for NBAD) in its offices located in Abu Dhabi, Al Ain, Dubai, Sharjah and Ras Al Khaimah.

Special application forms will be available in these offices for replacement of any lost allocation letter, and forms for personal data amendment as well as share transfer forms.

"RAK Properties would like to inform its investors that no transactions will be approved during this period and dealings will begin only after the listing of the company's shares in the Abu Dhabi Securities Market" added Al Qadi.

As the registrar bank, the National Bank of Abu Dhabi, will issue certificates to the company's registered share holders for all the transferred shares and will also deliver these certificates to the investor either through its branches or by Empost depending upon the investor's request.

The NBAD will also initiate the listing of the company shares on Abu Dhabi Securities Market after completion of the updated registration and will announce the commencement of dealings on the stock market.

Our esteemed investors should undertake the necessary arrangements to obtain an investment license in the Abu Dhabi Securities Market and then deposit the ownership certificates of the shares and the allocation notification at the offices of the Abu Dhabi Securities Market prior to any dealings.