Qannas Investments Limited Acquisition of Shares in Qannas Investments Ltd (9822E)

TIDMQIL

RNS Number : 9822E

Qannas Investments Limited

09 July 2019

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 9(th) 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: [phone] 

Nadia Trehiou

   ADCM Ltd. (Investment Manager)                 Tel: [phone] 

Mustafa Kheriba

   finnCap Ltd                                                         Tel: [phone] 

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                         Shares of QIL 
        Financial instrument, 
        type of instrument 
       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:                     33,081,771 ordinary shares of no 
         *    Aggregated volume                     par value have been acquired at $0.63 
                                                    per share. 
 
         *    Price 
      -----------------------------------------  ----------------------------------------------- 
 e)    Date of the transaction                    09(th) July 2019 
      -----------------------------------------  ----------------------------------------------- 
 f)    Place of the transaction                   EUROCLEAR 
      -----------------------------------------  ----------------------------------------------- 
 

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July 09, 2019 10:09 ET (14:09 GMT)