GMFA Global Mena

 

TIDMGMFA 
 
RNS Number : 1166Z 
Global MENA Financial Assets Ltd 
15 September 2009 
 

15 September 2009 
GLOBAL MENA FINANCIAL ASSETS LIMITED 
Appointment of a New Chairman of the Board and Changes to the Company's 
Auditors, Legal Advisors and Membership of Committees 
The Directors of Global MENA Financial Assets Limited (the "Company"), a 
closed-ended investment company incorporated in Guernsey, wish to announce the 
appointment of a new Chairman of the Board and the following changes to the 
Company's auditors, legal advisors and membership of certain committees, 
following a meeting of the Company's Board, held yesterday. 
Appointment of the Chairman of the Board 
Further to the announcement made on 2 September 2009, the Company confirms that 
Hisham Al Otaibi has been appointed as a non-executive director. In addition, 
the Company is pleased to announce that the Board has appointed Hisham as 
Chairman of the Board, with immediate effect. 
Appointment of KPMG as the Company's Auditors 
Further to the announcement made on 2 September 2009, the Company announces that 
KPMG Channel Islands Limited ("KPMG") is to be appointed as the Company's 
auditors.  KPMG's appointment shall take effect once it has completed its 
new-client engagement procedures. 
Appointment of Allen & Overy LLP as the Company's Legal Advisor 
The Company is pleased to announce that it has appointed Allen & Overy LLP as 
its legal advisor, with immediate effect. 
Formation of Committees 
The Company is pleased to announce the formation of an Independent Committee, to 
comprise  of Hisham Al Otaibi, Anne Ewing and Kishore Dash.  It is intended that 
the Independent Committee will be responsible for reviewing any related party 
transactions as and when such transactions arise. 
In addition, the Company is pleased to announce that the membership of the 
following committees will be as follows: 
  *  the Company's Audit Committee shall comprise of Hisham Al Otaibi, Kishore Dash 
  and Anne Ewing; 
  *  the Company's Nomination Committee shall comprise of Anne Ewing and Maha 
  Al-Ghunaim; and 
  *  the Company's Remuneration Committee shall comprise of Hisham Al Otaibi and Maha 
  Al-Ghunaim. 
 
 
 
For information please contact: 
Alison Bilham 
HSBC Security Services (Guernsey) Limited 
 T: +44 (0)1481 707 
213 
Financial Dynamics      +44(0) 207 269 7114 
Ed Gascoigne-Pees 
Nick Henderson 
Notes to Editors 
About Global MENA Financial Assets Limited 
Global MENA Financial Assets Limited is a Guernsey incorporated investment 
company formed on 2 June 2008 to make attractive absolute gains through 
investment in a diversified portfolio of financial sector assets focused 
predominantly in the MENA region (including Turkey). 
www.gmfa.com 
About Global Capital Management Ltd. 
Global Capital Management Ltd. is the wholly-owned subsidiary of Global 
Investment House K.S.C.C. The investment manager has one of the largest private 
equity teams in the MENA region.  The team is organised into transaction, due 
diligence and organisational development and monitoring subgroups. The members 
of the private equity team have diverse sector and geographic experience in 
countries across the MENA and other emerging markets.  The team collectively 
maintains a broad network of institutional relationships within the regions 
targeted for investments by GMFA.  The private equity team currently manages 
assets more than US$3 billion. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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