This announcement is not a prospectus. This announcement does not constitute, or form part of, any offer or invitation to sell, allot or issue, or any solicitation of any offer to purchase or subscribe for any securities in the United Arab Emirates, the United States or any other jurisdiction. Applications have been made for admission of the Subscription Shares (as defined below) to the Official List of Securities of the Dubai Financial Services Authority ("DFSA") and to trading on Nasdaq Dubai Limited ("Nasdaq Dubai").
Depa Plc Admits Shares to Trading on Nasdaq Dubai
Dubai, United Arab Emirates, 24 May 2023: Depa Plc ("Depa", the "Company" or the "Group"), the global luxury interior solutions group whose ordinary shares are currently listed on Nasdaq Dubai, has announced that the Subscription Shares (as defined below) have been admitted to the Official List of Securities of the DFSA and to trading on Nasdaq Dubai ("Admission") under the ticker symbol DEPA A.
On 11 February 2022, Depa and the Public Investment Fund of the Kingdom of Saudi Arabia ("PIF") announced that they had reached agreement on the terms of a proposed cash investment to be made by PIF in Depa of AED 150,000,000 (the "PIF Investment") in return for: (i) the allotment and issuance of 750,000,000 new class A ordinary shares in Depa, comprising a new class of shares (the "Subscription Shares"); and (ii) the issuance of warrants to subscribe for up to 272,829,158 additional new class A ordinary shares (the "Warrants"). In exchange for the Subscription Shares and the issuance of the Warrants, PIF contributed a total cash amount of AED 150,000,000 to Depa at a subscription price of AED 0.20 per Subscription Share. The reference price of the Subscription Shares is AED 0.30.
The net proceeds received by Depa from the PIF Investment are being used to enable relevant subsidiaries of the Company to meet their working capital requirements, finance their operational requirements, service their existing finance obligations and to fund expansion plans into the Kingdom of Saudi Arabia.
For further information, please contact:
Tel: + 971 4 821 6666
David Holiday, Group Chief Legal Officer and Company Secretary
For more information, please refer to the corporate website: www.depa.com
Notes to editors:
Depa is a strategic management company specialising in global interior solutions. Depa’s key business units hold leading positions in their respective markets: Vedder, Depa Interiors and the Deco Group. Employing thousands of people worldwide, the Group’s operations are centred on two regional hubs: Europe and the Middle East.
Depa's mission, shared by each of its key business units, is to deliver sustainability, profitability and performance for its clients, shareholders and employees. The Group’s five core values are integral to everything Depa does: transparency, integrity, accountability, professionalism and exceptional service.
Depa PLC is listed on the Nasdaq Dubai (DEPA: DU) and is headquartered in Dubai, United Arab Emirates.
This document may contain certain 'forward looking statements' with respect to Depa's financial condition, results of operations and business and certain of Depa's plans and objectives with respect to these items. By their very nature, forward looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events, and depend on circumstances, which may occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward looking statements. All written or verbal forward looking statements, whether made in this document or made subsequently, which are attributable to Depa or any other member of the Group or persons acting on their behalf are expressly qualified on this basis. Depa does not intend to update any such forward looking statements.
This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase or subscribe for any shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefore.
In particular, this announcement does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer or invitation to purchase or subscribe for, any Subscription Shares or any other securities in the Company to any person in any jurisdiction.