|24 March, 2019

Statement from SHUAA Capital regarding possibility of a merger with Abu Dhabi Financial Group

Each party has formed a Working Group made up of senior executive management to review the commercial potential along with any legal and structural aspects

Dubai, UAE: SHUAA Capital psc (“SHUAA”) and Abu Dhabi Financial Group LLC (“ADFG”) have commenced discussions regarding the possibility of a merger of the two institutions to become a larger financial listed firm with the final structure subject to legal and regulatory consent.

Each party has formed a Working Group made up of senior executive management to review the commercial potential along with any legal and structural aspects of the transaction together with financial, legal and valuation advisors.

On completion of the review, the Working Groups will provide their recommendations to the respective Board of Directors of each institution and, should a transaction be agreeable, seek regulatory approvals.

At this time, there is no certainty that discussions between the parties will result in a transaction.

SHUAA shall notify the shareholders and the markets on any material progress on the matter once an agreement is reached between the parties.

-Ends-

About SHUAA Capital psc:

Established in 1979, and often considered to be the most recognized financial advisory and investment firm in the Middle East, SHUAA Capital psc (‘SHUAA’) is an integrated financial services firm headquartered in the United Arab Emirates. The firm services corporate and institutional clients, governments, family businesses and high-net-worth-individuals with expertise in the areas of Asset Management, Investment Banking, Capital Markets and Credit. SHUAA is a public shareholding company with its shares listed on the Dubai Financial Market. The firm is regulated as a financial investment company by the UAE Central Bank and the Emirates Securities and Commodities Authority.

The firm owns and operates subsidiaries based in the Kingdom of Saudi Arabia and the Arab Republic of Egypt. They are SHUAA Capital - Saudi Arabia which operates as a real estate asset and investment manager, Gulf Finance Saudi Arabia its Shari’ah-compliant lending arm, and SHUAA Securities–Egypt, the newest addition to the Group, specializing in brokerage services for institutional, corporate and retail clients with seamless access to regional markets. www.shuaa.com   

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