Depa PLC (“Depa”), the leading global interior solutions group, announces a Connected Person transaction.
On 9 December 2021, Depa received notification from Mashreqbank PSC that, pursuant to Dubai International Financial Centre Court judgment in Case No. CFI-050-2021 issued on 26 July 2021 and in accordance with an execution letter issued by the Dubai Court of Execution dated 18 October 2021, Mashreqbank PSC acquired 149,555,275 ordinary shares in Depa on 28 November 2021. Depa has on 15 December 2021 received subsequent notification from Mashreqbank PSC confirming that the total number of shares held by Mashreqbank following the transaction is 149,555,275 shares.
The 149,555,275 ordinary shares were previously owned by Arabtec Holding PJSC and represented 24.18% of Depa’s issued share capital.
SUMMARY OF TRANSACTION
|
No. of Shares Acquired |
Date Acquired |
Share Price |
Class of Shares |
Proportion of Issued Shares Held Before Transaction (%) |
Proportion of Issued Shares Held Post Transaction (%) |
Total No. of Shares Held |
|
149,555,275 |
28 November 2021 |
Not provided |
Ordinary |
0% |
24.18% |
149,555,275 |
Depa has a total issued share capital of 618,452,753 ordinary shares and outstanding ordinary shares in issue of 614,145,794.
Depa PLC
Tel: + 971 4 821 6666
David Holiday, Group Chief Legal Officer & 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 three key business units hold leading positions in their respective markets: Vedder, Depa Interiors and Deco Group. Employing thousands of people worldwide, the Group’s operations are centred on three regional hubs: Asia, 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.
Cautionary statement:
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.
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