Last checked at 25 Jul 2008 08:00
| FOR IMMEDIATE RELEASE | 25 July 2008 |
THE FAMILY SHARI'AH FUND LIMITED
(the "Company")
FIRST DAY OF DEALINGS ON AIM FOR
NEW SHARI'AH COMPLIANT MULTI-ASSET CLASS FUND
The Family Shari'ah Fund Limited, a multi-asset class fund providing investors with exposure to a variety of Shari'ah Compliant investments predominantly outside of the GCC region, is pleased to announce its commencement of trading on AIM today ("Admission").
The new multi-asset class fund managed by The Family Office Company B.S.C. (Closed) ("The Family Office"), a multi-family office based in Bahrain, will trade under the TIDM: FSF, following a successful placing of 31,549,999 Ordinary Shares at a Placing price of US$1.
Further information regarding The Family Shari'ah Fund Limited and the Placing can be found on the Company's website and in the Company's Admission Document which is also available on the Company's website (www.familyshariahfund.com).
Placing highlights:
The Family Shari'ah Fund Limited has been admitted to AIM following a successful placing of US$31.55 million.
The Company will seek to provide investors with:
- geographic diversification, predominantly outside the GCC;
- liquidity through trading of the Company’s shares on AIM; and
- a stable return profile across a market cycle.
| Placing statistics | |
| Placing Price | US$1 |
| Gross proceeds of the Placing | US $31.55million |
| Estimated proceeds of the Placing to be received by the Company after expenses | US$30.55million |
| Number of Placing Shares | 31,549,999 |
| Number of Ordinary Shares in issue following Admission | 31,550,000 |
| Percentage of the Share Capital subject to the Placing | 100% |
| Market capitalisation of the Company following the Placing at the Placing Price | US$31.55 million |
The Company's investments will be managed by The Family Office with the objective of generating stable long-term capital appreciation across a market cycle through a diversified pool of investments, in strict accordance with Shari'ah principles (as determined by the Company's Shari'ah Supervisory Board).
The Family Office has a track record of managing and advising on a number of investments and specific mandates from GCC-based high net worth families and individuals.
This announcement should be read in conjunction with the Admission Document. Terms defined in the Admission Document have the same meaning when used in this announcement.
For further information, please contact:
| The Family Office | Tel: +973 (17) 221177 |
| Richard Joye, Projects Manager | |
| Blomfield Corporate Finance | Tel: +44 (0)20 7489 4500 |
| James Pinner / John Simpson / Alan MacKenzie | |
| Buchanan Communications | Tel: +44 (0)20 7466 5000 |
| Bobby Morse / James Strong |
Blomfield Corporate Finance Limited, which is authorised and regulated by the Financial Services Authority, has approved this announcement for communication by the Company to the public for the purposes of section 21of the Financial Services and Markets Act 2000.