Takaful Emarat has announced details of a share issue that will increase its capital from AED 100 million to AED 150 million through the issuance of 50 million shares with a nominal value of One Dirham (AED 1) each.
The move follows a decision taken at an Extraordinary General Assembly of the company in its meeting held on 22 December last year which resolved to increase the issued capital of Takaful Emarat by up to AED 100 million.
The capital increase will finance the company’s growth and projects development plan in Dubai. A detailed memorandum elaborating Takaful Emarat’s future operations growth strategy is being published it on its website.
Shareholders registered as of the close of business on 29 October 2015 shall have the right to subscribe for the offered shares pro rata the value of the capital increase. Those who do not wish to exercise their rights may sell their rights to other investors via brokers registered and licensed by DFM between 1 November and 15 November 2015.
Originally published on www.cpifinancial.net