Investor and Media Centre

Further Clarification - Notice of Transaction

Nov 22 ,2016

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FURTHER CLARIFICATION – Notification of Transaction

Dubai, UAE; 21 November 2016: Depa Limited [Nasdaq Dubai: DEPA] (the ""Company”), would like to provide further clarification on the statement: ""CLARIFICATION – Notification of Transaction"", published on 06 April 2015 (the ""Previous Disclosure"").
On 16 November 2016, the Company received notification from Clarity Fund SPC Ltd of the following clarifying information in relation to the Previous Disclosure:

  1. As previously disclosed, on 22 December 2014 Mr Khaldoun Tabari, a non-executive non-independent director of the Company (""Mr Tabari""), transferred 37,567,493 ordinary shares, representing an ownership of 6.11% in the Company to a trust called Clarity Fund SPC Ltd (the ""Transaction"").
  2. Mr Tabari holds no other ordinary shares in the Company following the Transaction
  3. Clarity Fund SPC Ltd already owned 9,864,952 ordinary shares in the Company at the time of the Transaction, so as a result of the Transaction, Clarity Fund SPC Ltd became the owner of a total of 47,432,445 ordinary shares in the Company, representing 7.72% of the total issued ordinary shares of the Company.
  4. The directors of Clarity Fund SPC Ltd are John Mills and John Kleynhans. Mr Qais Saleh was appointed as an additional director of the Clarify Fund SPC Ltd as and from August 2016.
  5. The shares of Clarity Fund SPC Ltd are 100% owned by Maitland Trustees Limited in its capacity as the trustee of the trust constituted by Clarity Fund SPC Ltd.
  6. The Transaction was recorded as a contribution by Mr Tabari to the trust constituted by Clarity Fund SPC Ltd.
  7. The trust constituted by Clarity Fund SPC Ltd is a discretionary trust and no beneficiaries hold or are entitled to any vested or other rights in or to the trust assets.
  8. The trust deed of Clarity Fund SPC Ltd specifically states that Maitland Trustees Limited, as trustee of the trust, has the power to exercise voting powers and management over the trust assets, without consultation with any other party.

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For further enquiries please contact:

Depa Limited
David Holiday
Group Chief Legal Officer
& Company Secretary
Tel: + 971 4 446 2100
E-mail: ir@depa.com

For more information on Depa Limited, please refer to the corporate website:www.depa.com

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CONTACT US

Depa Group, Vision Tower,
35th Floor, P.O. Box 56338,
Dubai, U.A.E.
T: +9714-446-2100
F: +9714-446-2102
info@depa.com

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