Dubai, United Arab Emirates, 08th December 2019: ENBD REIT (CEIC) PLC (“ENBD REIT”), the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, announces that its Board of Directors have concluded a comprehensive review of various strategic alternatives to maximise long-term value for shareholders.
ENBD REIT confirms that, in light of this review, the Board has decided to proceed with formalising a restructuring 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 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 23rd January 2020.
