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Thursday, November 26 - 2009

Tejoori besieged by key institutions

  • United Arab Emirates: Saturday, October 29 - 2005 at 15:46
  • PRESS RELEASE

World's first truly independent Sharia compliant Investment Company has to extend initial placement deadline to include key strategic institutions.

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Tejoori Limited, the newly established international Islamic Investment Company launched on October 10 has announced that the closing date for the private placement would be extended from October 31 to November 15, 2005 and that all shareholdings would be confirmed just prior to the private listing on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE).

Sheikh Fawaz Bashraheel, Chairman of Tejoori Limited said:
"Due to the enthusiasm of key strategic institutional partners keen to join the list of founding shareholders, the Board of Tejoori has agreed that the closing date should be extended to November 15 in order to allow for these institutions to meet regulatory requirements.


Tejoori, which will operate out of Dubai, is to be registered in Guernsey prior to listing on the AIM. Prominent Middle East investors have been invited to take part in the initial capital raising.

Added Sheikh Fawaz: "We had planned to raise USD 100 million with a minimum launch capital of USD 65 million via private placements prior to our listing on the London Exchange, but fully expect to exceed that amount by many times. We intend to be flexible in our investments policy, so it makes sense to be flexible enough to ensure that such key institutions are included, as they will play a significant role in Tejoori's future expansion plans."
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Notes and media contacts

About Tejoori
Tejoori is a limited liability investment company. Operating out of Dubai, UAE, Tejoori is to be registered in Guernsey prior to being listed on the Alternative Investment Market on the London Stock Exchange.

Tejoori plans to raise a minimum of USD 100 million with a minimum launch capital of USD 65 million via private placement prior to its admission to the AIM market of LSE.

Tejoori Limited
For more information contact
Ayman AlSaleh, Bates PanGulf PR, Dubai, UAE.
T: +9714 295 3456
F: +9714 295 1027

or
Richard Yeats Brown, Media Relations,
Tejoori Limited, Dubai, UAE
T: +9714 329 2426
F: +9714 329 2427

Enclosures: NIL
Cautionary statement regarding forward-looking statements

This media release contains statements that constitute «forward-looking statement» to our foundation, private placement, initial public offering and other elements of our business plan.

While these statements represent our current opinion and future expectations a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. Tejoori Limited is not under any obligation to and expressly disclaims any such obligations to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

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