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English news

09-Dec-2019

ENBD REIT set to proceed with the restructuring and becoming a privately held REIT

ENBD REIT announced that its Board of Directors has decided to proceed with formalising the restructuring process and to become a privately held REIT, subject to shareholders’ and regulatory approvals. ENBD REIT is also considering the deposit of ENBD REIT shares in Nasdaq Dubai CSD, facilitating share transfers upon becoming a privately held REIT. ENBD REIT is in discussions with the regulator, the Dubai Financial Services Authority (DFSA) and other stakeholders. Further details of progress with regard to the restructuring, delisting and possible future share transfer mechanisms will be submitted for shareholders’ approval at an upcoming extraordinary general meeting. This will be announced on or before 23 Jan 2020.