”), the leading global interior solutions group, confirms that Depa has entered into a liquidity provider agreement with SHUAA Capital International Ltd (“SHUAA”).
As Depa’s liquidity provider, SHUAA will act independently of Depa within the defined parameters. The appointment of a liquidity provider is expected to lead to a narrowing of Depa’s bid-offer spread, lower volatility, larger trades, increased daily volumes, larger volumes being available to buyers and sellers, reduced transaction costs, and more efficient pricing.
Depa shall make a portion of its treasury shares available to SHUAA for the above purpose.
SHUAA shall begin its liquidity provider services immediately.
Hamish Tyrwhitt, Depa’s Group Chief Executive Officer commented: “The appointment of SHUAA is another of the many actions that Depa is taking to enhance the liquidity of its shares and generate sustainable long-term shareholder value. The liquidity provider is expected to provide our shareholders with many benefits including a tighter spread, reduced transaction costs and an improved ability to trade in and out of the company’s shares.
“This appointment builds on the announcement made earlier this month of Depa’s intention to redenominate Depa’s listing currency to UAE Dirhams and the unwinding of Depa’s Global Depository Receipt programme which will occur at the end of February 2018. In addition to these actions, the company continues to assess other potential actions to enhance the liquidity of Depa’s shares. Should definitive action be taken in relation to any of these options, an announcement would be communicated to the market.” © Press Release 2018