69WK Euro.bk. 31

 

TIDM69WK 
 
RNS Number : 6633X 
Tabreed 08 Financing Corporation 
09 December 2010 
 

 
Thursday 9th December 2010 
 
 
   TABREED ANNOUNCES REGULATORY APPROVAL FOR CAPITAL REDUCTION OF 970 MILLION 
                                    SHARES 
 
 
National Central Cooling Company PJSC ('Tabreed'), the Abu Dhabi-based utility 
company, today announced that it has received regulatory approval from the 
Ministry of the Economy and the Emirates Securities and Commodities Authority to 
reduce the Company's share capital through the cancellation of 970,000,000 
shares.  The cancellation of shares will be on a pro-rata basis at a ratio of 
5:1 - in effect a 'reverse share-split' - and applies to all Tabreed 
shareholders. Each shareholder will retain one share for every five original 
shares it holds. The remaining shares will be cancelled. 
 
After the share cancellation this evening, Thursday 9th December 2010, the 
percentage share of Tabreed held by each shareholder will be the same as before 
- subject only to minor adjustments as fractional shares will not been issued. 
The new shares will start trading on Sunday 12th December 2010 on the Dubai 
Financial Market. 
 
The cancellation of shares through a capital reduction is a key component of 
Tabreed's recapitalization program that was approved by shareholders at the 
Company's EGA on 30th May 2010.  The capital reduction is intended to raise 
Tabreed's share price above 1 AED and will enable Tabreed to raise new equity 
capital, when agreed, in the future. 
 
 
                                    - ends - 
 
About Tabreed 
Tabreed is an Abu Dhabi-based utility company that caters to the ever-growing 
demand for cost-effective, environment-friendly and efficient year-round cooling 
solutions in the Middle East. Founded in June 1998 and listed on the Dubai 
Financial Market, Tabreed is the largest district cooling provider in the world 
delivering sustainable long-term returns for its shareholders and bespoke 
solutions for all its customers. Tabreed currently owns and operates 49 district 
cooling plants, joint-ventures and subsidiaries with operations in Bahrain, 
Qatar, Oman and Saudi Arabia. Tabreed is an integral part of the region's 
infrastructure growth, providing cooling solutions to a wide-variety of 
residential, commercial and military communities. 
 
For more information please visit www.tabreed.com 
 
For more information: 
Theo Hildebrand 
Finsbury 
Tel: +971 50 352 4286 
Email: theo.hildebrand@finsbury.com 
 
Ross Bethell, Tabreed Corporate Communications Director 
rbethell@tabreed.com 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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