Acquisition of Shares in Qannas Investments Ltd
Updated : 15:10
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Qannas Investments Limited
("Qannas" or the "Company")
Holdings in Company / PDMR Dealing
The Board of Qannas has been informed that Abu Dhabi Financial Group LLC ("ADFG") has today acquired 33,081,771 ordinary shares of no-par value in the capital of the Company ("Ordinary Shares") on 9th July 2019 at a price of $0.63 per share through share exchanges with a number of shareholders in both Qannas and ADFG, as part of a restructuring of ADFG's shareholder structure ahead of its proposed merger with Shuaa Capital.
As a result, ADFG's total direct and indirect interest in Ordinary Shares has increased to 45,152,304 representing 75.87% percent of the voting rights of the Company.
ADCM Ltd the investment manager of the Company is a wholly owned subsidiary of ADFG.
For further information please contact:
Qannas Investments Limited Tel: 01534 844 806
Nadia Trehiou
ADCM Ltd. (Investment Manager) Tel: +971 2 639 0099
Mustafa Kheriba
finnCap Ltd Tel: 020 7220 0500
Henrik Persson/William Marle (Corporate Finance)
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Abu Dhabi Financial Group LLC | |||
2. | Reason for the Notification | ||||
a) | Position/status | ADCM Ltd, the investment manager of the Company is a wholly owned subsidiary of ADFG | |||
b) | Initial notification/Amendment | Initial Notification | |||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Qannas Investments Limited (QIL) | |||
b) | LEI | 21380042SL88EILG1I04 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the Financial instrument, type of instrument | Shares of QIL | |||
| Identification code | KYG7306P1037 | |||
b) | Nature of the transaction | Acquisition | |||
c) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
$0.63 | 33,081,771 | ||||
d) | Aggregated information: • Aggregated volume • Price | 33,081,771 ordinary shares of no par value have been acquired at $0.63 per share. | |||
e) | Date of the transaction | 09th July 2019 | |||
f) | Place of the transaction | EUROCLEAR | |||
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