Subscription through 8 banks and financial institutions to start on April 13, 2014

55% of the Company's shares (AED275 million) to be offered in an IPO at the price of AED1 per share plus a subscription fee of 3 fils per share

Dubai, UAE, April 7, 2014: Jamal Al Hai, Chairman of the Founders Committee of Marka, a public joint stock company under incorporation with a capital of AED500 million, announced that the UAE Securities and Commodities Authority has granted the final approval for offering 55% of Marka's shares for public subscription.

Al Hai informed that investors can subscribe to Marka shares from April 13 2014, for 12 days, subscription will be closed on April 24, 2014.

Eight banks and financial institutions will receive the contributions of the investors willing to subscribe to the Company's shares, including National Bank of Abu Dhabi, Union National Bank, Abu Dhabi Commercial Bank, Dubai Islamic Bank, National Bank of Fujairah, Commercial Bank International, Finance House, Islamic Finance House.

Al Hai said: "We are delighted to announce that we have obtained all the necessary approvals to offer the Company's shares for IPO. We would like to thank the Securities and Commodities Authority, the Dubai Department of Economic Development, the Dubai Financial Market and other stakeholders for their support in the launch of the Company which will be a qualitative addition to the list of joint stock companies in the UAE. Marka's listing on the DFM will be the first public shareholding company in the UAE's retail sector to be listed on UAE's stock markets besides being the DFM's first IPO in several years."

He added that the aforementioned banks and financial institutions were selected as receiving banks for the IPO due to their unrivaled experience and wide network of branches in the UAE as well as in the region.

"We are pleased to partner with such leading financial institutions to be the receiving banks. We have full confidence in their capability to manage the process of receiving and handling subscription applications, as per the highest standards," Al Hai said.

He added: "Marka's Founders Committee will work in close cooperation with CAPM Investment, the financial advisor and lead manager of the Marka IPO; and the receiving banks to provide subscribers with applications and information

required by them. The receiving banks will provide various platforms for investors to apply and pay the subscription amounts for Marka's shares. We expect to witness a significant turnout by individual and institutional investors."

Dr. Mahdi Mattar, CEO of CAPM Investment, a subsidiary of Financial House, said: "55% of the Company's shares, equivalent to AED275 million, will be offered to the public in an IPO at the price of AED1 per share plus a subscription fee of 3 fils per share."

Mattar explained that the IPO will be open to investors of all nationalities, provided 51% of equity is held by GCC nationals or GCC legal entities. The Emirates Investment Authority (EIA) is also entitled to subscribe to 5% of the Company' offered shares, and those shares (if subscribed for) will be allocated to the EIA before any allocation of shares to the other shareholders, in accordance with the UAE Cabinet's Decree No. 8 of 2006.

He added: "After the end of the subscription process and the announcement of the establishment of the Company, Marka will submit a request for the listing of its shares on the Dubai Financial Market, in accordance with the established procedures. Accordingly, Marka will be the first public shareholding company in the UAE to be listed on the DFM for several years now, opening the door for the return of IPO activities in the UAE, which saw relative stagnation over the past few years."

The conclusion of Marka Founders' equity subscription of AED225 million (or equivalent to 45% of the Company's capital) in March paved the way for the obtaining of the final regulatory approvals for issuing the remaining 275 million shares (representing 55% of the Company's capital) through an IPO. Marka's 151 founders include an elite group of VIPs, businessmen and prominent investors.

Marka will focus on the retail and F&B sectors in the UAE and the broader GCC region. Both sectors are witnessing increased activity due to growing demand from both residents as well as the increasing number of tourists visiting the country.

About Marka:
Marka is an under incorporation public shareholding company with a capital of AED500 million. The Company has obtained final approval from the UAE Securities and Commodities Authority, and work is currently underway to complete the process of its establishment, including the launch of its Initial Public Offering (IPO).

Marka will operate in the sectors of retail and Food & Beverage (F&B) within the UAE in particular, and in the GCC in general. The Company will be listed on Dubai Financial Market, where it will be the first public shareholding firm within the retail sector in the UAE.

About CAPM Investment:
CAPM Investment is an Abu Dhabi-based financial services firm that offers clients a complete range of advisory solutions across its Investment Banking and Asset Management business units.

Since it became a subsidiary of Finance House in November 2013, CAPM Investment has undertaken an ambitious expansion drive to strengthen its client base and establish its status as a pioneering company that offers various kinds of financial services and products within the region, a fact reflected in its appointment as the financial advisor and lead manager of the Marka IPO.

CAPM Investment was incorporated in September 2007 as a private joint stock company registered in Abu Dhabi and licensed by the UAE Central Bank, with a capital of AED55 million.

© Press Release 2014