10th Jul 2025 08:27
NOT FOR DISTRIBUTION: (A) IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES") OR TO ANY U.S. PERSON (AS DEFINED BELOW); OR (B) IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.
10 July 2025
ARADA SUKUK LIMITED
ANNOUNCES RESULTS OF CONSENT SOLICITATION
to eligible holders of its outstanding U.S.$ 500,000,000 Trust Certificates due 2027
(the "Certificates")
ARADA SUKUK LIMITED
(Incorporated as an exempted company with limited liability in the Cayman Islands)
(the "Trustee")
Description of Certificates | Aggregate Face Amount Outstanding |
ISIN | Consent Fee |
U.S.$ 500,000,000 Trust Certificates due 2027 | U.S.$ 500,000,000 | XS2471859251 | U.S.$ 0.75 per U.S.$ 1,000 in aggregate face amount of the Certificates |
On 16 June 2025, the Trustee announced an invitation to holders of the Certificates to consent to certain modifications of the terms and conditions of the Certificates and the documents relating to the Certificates, all as further described in the consent solicitation memorandum dated 16 June 2025 (the "Consent Solicitation Memorandum"). Capitalised terms used in this notice and not otherwise defined shall have the meanings given to them in the Consent Solicitation Memorandum.
Results of the Original Meeting and Details of Adjourned Meeting
A Meeting was timetabled for 9 July 2025 for the purpose of considering the Extraordinary Resolution (the "Original Meeting"). The Original Meeting was inquorate and was adjourned.
The adjourned Meeting will be held at the offices of Greenberg Traurig, LLP at The Shard, Level 8, 32 London Bridge Street, London SE1 9SG, United Kingdom at 10.00 a.m. (London time) on 23 July 2025 for the purpose of considering and, if thought fit, passing the Extraordinary Resolution (the "Adjourned Meeting").
As at the date of the Expiration Deadline, more than 75 per cent. of the valid Electronic Voting Instructions provided by Eligible Certificateholders to the Information and Tabulation Agent by the Expiration Deadline were votes in favour of the Extraordinary Resolution. Consequently, based on the information available to it as at today's date, the Trustee expects that the Extraordinary Resolution will be passed at the Adjourned Meeting.
Electronic Voting Instructions received by the Information and Tabulation Agent at or prior to the Expiration Deadline remain valid, with Certificates subject to such Electronic Voting Instructions being blocked until the conclusion of the Adjourned Meeting.
If the Extraordinary Resolution is passed at the Adjourned Meeting then, subject to the satisfaction of the other conditions set out in the Consent Solicitation Memorandum, the Consent Fee will be paid by the Trustee on or around 23 July 2025 and, in any event, by no later than the fifth Business Day following the Adjourned Meeting (the "Fee Payment Date").
Further details about the Consent Solicitation can be obtained from:
The Solicitation Agent
Standard Chartered Bank
7th Floor Building One, Gate Precinct
Dubai International Financial Centre
P.O. Box 999
Dubai
United Arab Emirates
Attention: Liability Management
Email: [email protected]
The Information and Tabulation Agent
Sodali & Co Ltd
The Leadenhall Building
122 Leadenhall Street
London
EC3V 4AB
United Kingdom
Email: [email protected]
Transaction Website: https://projects.sodali.com/arada
Distribution Restrictions
This announcement and the Consent Solicitation Memorandum do not constitute an offer or an invitation to participate in the Consent Solicitation in any jurisdiction in or from which, or to or from any person to or from whom, it is unlawful to make such offer or invitation under applicable securities laws. The distribution of the Consent Solicitation Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession the Consent Solicitation Memorandum comes are required by each of the Trustee, Arada, the Solicitation Agent, the Delegate and the Information and Tabulation Agent to inform themselves about, and to observe, any such restrictions.
Related Shares:
Arada.suk.27