49% of ordinary shares available to international investors from 24 October 2016

Abu Dhabi, UAE; 23 October 2016

Arkan Building Materials Co. PJSC (ADX: ARKAN) (“Arkan” or “the Group”), a leading construction and building materials company in the UAE, announced that its Board of Directors approved a resolution to open up its share register to foreign ownership. Subsequently, the Company’s General Assembly endorsed the decision and its Articles of Association have been amended to reflect the necessary changes.

From 24 October 2016 non-UAE natural persons will be able to own up to 49% of Arkan’s ordinary shares.

Established in 2005 and listed in January 2007, Arkan is 51% owned by General Holding Corporation (‘SENAAT’), an entity wholly owned by the Government of Abu Dhabi to promote sustainable industrial activity in Abu Dhabi.  Prior to this announcement the remaining 49% of ordinary shares listed on the Abu Dhabi Securities Market (ADX) were held solely by UAE nationals.  Arkan has a total of 1.75bn shares in issue.

His Excellency Eng. Jamal Salem Al Dhaheri, Chairman of Arkan, said:  "This is an important moment in the development of the business.  We want to encourage greater liquidity in the shares and open to a broader set of investors looking for access to the development of Abu Dhabi and the United Arab Emirates.  Arkan has been instrumental in that development, producing materials for some of the highest profile nation-building projects.   At the same time we are focused on increasing our exports of specialist construction products.”

Arkan reported first half results ending 30 June 2016 with revenues at AED 411 million and a net profit of AED 40 million. Operating margin was 25% and the Company had AED 67 million in cash and cash equivalent.

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For investor relations enquiries, please contact:
Brunswick Group
Phone: +971 (0)2 234 4600 / +971 (0)4 446 6270
Email: arkan@brunswickgroup.com

About Arkan
Arkan Building Materials Co. PJSC (ADX: ARKAN), is a public joint stock company specialising in manufacturing of building and construction products in the UAE.  Arkan’s vision is to build a large integrated building products business that serves the local and regional construction industries. Arkan’s portfolio companies include Emirates Cement Factory, Emirates Blocks Factories, ANABEEB and Al Ain Cement Factory. The Company is also developing Arkan Dry Mortar, a high-capacity dry mortar plant located in Al Mafraq, which will produce a range of dry mix products.

For further information, please visit our website: www.arkan.ae

© Press Release 2016