Board Changes and Change of Nominated Adviser (7216E)
06 Junio 2012 - 1:01AM
UK Regulatory
TIDMSCAP
RNS Number : 7216E
Shariah Capital, Inc
06 June 2012
Embargo until 7am on 6 June 2012
Shariah Capital, Inc.
("Shariah Capital"or the "Company")
Board changes
Change of nominated adviser and broker
The Board of Shariah Capital (SCAP:L) announces the appointment
of Steven Adelkoff to the board as the Company's Finance Director
with immediate effect. Mr. Adelkoff is the Company's current Chief
Financial Officer, General Counsel and Corporate Secretary and has
been employed by Shariah Capital since December 2009. Prior to
joining Shariah Capital he served as the Company's outside legal
counsel, supervising all legal, tax, accounting and documentation
issues relating to the Company's Al Safi Trust platform, while a
partner at K&L Gates LLP, an international law firm he joined
in 1998. Mr. Adelkoff has worked in the alternative investment
industry for over two decades.
The Company also announces that Malcolm Wall Morris,
Non-Executive Director of Shariah Capital, has stepped down from
the board with effect from today due to his other commitments as
Chief Executive Officer of the Dubai Multi Commodities Centre. The
Board would like to thank Mr. Wall Morris for his contribution to
the Company since 2009.
The Board of Shariah Capital also announces the appointment of
Allenby Capital Limited as the Company's nominated adviser and
broker with immediate effect.
Commenting on the board changes, Eric Meyer, Chairman and CEO of
Shariah Capital, stated:
"It has been an honour and privilege to have Malcolm sit on our
board. His business acumen and management insight will be missed. I
am delighted though to welcome Mr. Adelkoff to the board. Steve has
worked with Shariah Capital since its early days and brings a
wealth of company, fund and shariah knowledge. Shariah Capital will
indeed benefit from his strong business mind and sage advice."
Mr. Wall Morris added:
"I have truly enjoyed my time as a director of Shariah Capital
working alongside Eric and the fund managers. I look forward to a
robust and continuing relationship with Shariah Capital through the
DMCC's shareholding in the Company and through our joint venture,
Dubai Shariah Asset Management, Ltd."
Other than disclosed in the appendix below there is no further
information required to be disclosed under Schedule 2 (g) and rule
17 of the AIM Rules for Companies in relation to the appointment of
Steven Adelkoff.
For further information please contact:
Shariah Capital, Inc.
+ 1 203 972
Eric Meyer (Chairman and Chief Executive Officer) 0331
Allenby Capital Limited +44 20 3328
(Nominated Adviser and Broker) 5656
Nick Athanas
Nick Harriss
James Reeve
Appendix
Steven Jay Adelkoff, aged 49, is or has been, a director or
partner of the following companies in the past five years:
Current directorships or partnerships Past (<last 5 years)
directorships or partnerships
International Electric Power LLC K&L Gates LLP
Aither Chemicals LLC
As at the date of this announcement Steven Adelkoff and his
spouse are interested in 80,000 Common Shares of USD0.01 each in
the Company representing 0.13% of the current issued share capital
of the Company.
There are no further disclosures to be made in relation to
Steven Adelkoff under schedule 2(g) or rule 17 of the AIM Rules for
Companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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