Extension of Lock Up & Partial Redemption by DMCCA
April 13 2010 - 11:43AM
UK Regulatory
TIDMSCAP
RNS Number : 1315K
Shariah Capital, Inc
13 April 2010
Regulatory Announcement
Company Shariah Capital, Inc.
TIDM SCAP
Headline Extension of Lock Up and Partial Redemption by DMCCA
Released 13 April 2010
Shariah Capital, Inc. (SCAP.L) today announced that its Dubai partner, the Dubai
Multi Commodities Centre Authority (DMCCA), has reconfirmed its commitment to
build out its joint venture, Dubai Shariah Asset Management (DSAM), with Shariah
Capital. Part of that commitment includes the extension of capital commitments
to DSAM and the underlying DSAM Kauthar Funds.
Of the approximate $253,000,000 of capital and accumulated gains currently
invested, DMCCA has agreed to maintain a minimum $100,000,000 of investment
capital in the DSAM Kauthar Funds through 30 April 2011. Redemptions of
approximately $100,000,000 will take place on or around 15 April 2010, with DMCC
reserving the right to redeem approximately $50,000,000 in July, 2010.
The DSAM Kauthar Funds represent DSAM's asset management business initiative.
Both Shariah Capital and DMCCA will continue to promote the DSAM Kauthar Funds
and their award-winning 2009 performance results to attract investors and
explore distributor relationships with qualified institutions.
Shariah Capital also announced that it has successfully assumed full
responsibility for the Al Safi Trust, the independent, managed account
alternative investment platform launched in 2008 where Shariah Capital is the
Shariah advisor. Now, Shariah Capital can work directly with third parties
regarding direct marketing, structured products, and the creation of new funds
for the platform. Shariah Capital intends to expand Al Safi beyond Shariah to
offer conventional alternative investment solutions as well.
Enquiries:
Eric Meyer
Chairman & Chief Executive Officer
Shariah Capital, Inc.
Telephone: +1 203-972-0331
emeyer@shariahcap.com
Martin Smith
Investec Investment Banking
Telephone+44 20 7597 5177
Martin.smith@investec.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCIJMATMBIBBBM
Shariah Capital (LSE:SCAP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Shariah Capital (LSE:SCAP)
Historical Stock Chart
From Jul 2023 to Jul 2024