SALAM INTERNATIONAL INVESTMENT LIMITED Q.P.S.C. 
By The Board of Directors (BOD) of Salam International Investment Limited (SIIL), held its regular meeting on the afternoon of Monday 24/2/2014 to consider the items on its agenda, and has taken a number of decisions including: -
1 - The development of the Jumeirah Village property:
The BOD have approved the development of two plots of land owned by companies in Dubai's Jumeirah, and the budget to develop the project.
2 - Contribution to increasing the capital of LiBank:
The BOD have approved the increase in contribution of SIIL in LiBank - Lebanon. The BOD also approved in contributing to the establishment of a holding company in Luxembourg with LiBank and other investors.
3 - A global fashion brand:
The BOD approved to contribute in setting up a company to market a global fashion brand in the Jebel Ali Free Zone or any other free zone in the United Arab Emirates.
4 - Sale of the Jumana Tower:
The BOD approved the sale of the Jumana Tower located in The Pearl Doha to a group of local investors. Disclosed for sale on 23/01/2014 and at a price of QR 410 million, the price covers the costs of the design, construction, development, the Islamic finance profit, and any other costs related to the project and its sale.
It is worth noting that the approval of the projects mentioned above, are just preliminary approvals. Some adjustments may be made in order to proceed with some of the projects, to cater in the case of subsequent developments and the final results from the feasibility studies. Therefore justifiable actions might be taken to protect the interests of the company and its shareholders. Therefore SIIL confirms that this notion should be taken into account, by the shareholders, investors and those interested in both.
Dr. Adnan Ali Steitieh
Executive Director
Secretary of the Board of Directors
Note:
This text has been translated from its original Arabic equivalent, which remains the official version.
|
distributed by
|
