SALAMA’s Board of Directors approved the early settlement of the Murabaha Agreement with AMANA SPV LTD, triggering the mandatory conversion of Sukuk (MCS) into ordinary shares.
New shares will be issued to MCS certificate holders Eshraq Investments P.J.S.C and Humana Holding Limited at a conversion price of AED 0.46 per share.
The board set the voluntary settlement date for April 6, 2026, and approved a corresponding increase in the company's share capital, pending regulatory amendment from the Capital Market Authority.
A negative equity reserve of AED 181,956,521 will be recorded because the shares are being issued at a discount to their nominal value.
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