ADCB Finance (Cayman) Ltd Notice (6047T)
March 21 2019 - 7:29AM
UK Regulatory
TIDM43BI
RNS Number : 6047T
ADCB Finance (Cayman) Ltd
21 March 2019
Notice to creditors of
Abu Dhabi Commercial Bank PJSC
Following the announcement on 29(th) January 2019 that Abu Dhabi
Commercial Bank PJSC (ADCB) and Union National Bank PJSC (UNB)
intend to merge and together acquire Al Hilal Bank PJSC (AHB), we
would like to update you on the transaction and your rights as a
creditor of ADCB.
On 21(st) March 2019, the shareholders of ADCB and UNB passed
the necessary
shareholder resolutions at their respective general assembly
meetings to approve the
proposed merger, pursuant to the UAE Federal Law No. 2 of 2015
Concerning Commercial
Companies (the Law). ADCB shareholders also approved the
acquisition of the entire issued share capital of AHB immediately
following the completion of the proposed merger.
The combination of the three banks creates a robust platform to
grow the Bank's consumer and wholesale businesses in both
conventional and Islamic banking. Greater scale will permit larger
scope for nancing to support the UAE's economic agenda for diversi
cation, growth and investment in the bank's people, technology and
infrastructure.
Pursuant to Article 288 (4) of the Law, we would like to notify
you, as a creditor of ADCB, of the right to object to the proposed
merger in writing within 30 (thirty) days from the date of this
notice at the head o ce of ADCB as set out below:
Abu Dhabi Commercial Bank PJSC
Abu Dhabi Commercial Bank Building
Sheikh Zayed Bin Sultan Street
P.O. Box 939, Abu Dhabi
United Arab Emirates
You would also need to deliver a copy of your objection to the
Securities & Commodities Authority (within such 30 day period)
at the following address:
The Securities and Commodities Authority
13(th) Floor, Al Gaith Tower
Hamdan Bin Mohammed Street, Abu Dhabi
United Arab Emirates
We will be happy to assist should you have any questions. For
more information on the proposed merger, please
visit beyondambition.com
Abu Dhabi Commercial Bank PJSC
This announcement has been issued through the Companies
Announcement Service of Euronext Dublin.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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