Subscription Period Closes on 25 May 2016
Dubai Parks and Resorts today confirmed that the AED 1.68 billion Rights Issue, which was announced on the 19 April 2016, was oversubscribed at the end of trading on 23 May 2016, underlining strong investor support. Total subscription as at close of 23 of May 2016 amounted to AED 2.1 billion. The Rights Issue is intended to primarily finance the development of Six Flags Dubai, the fourth theme park within the Dubai Parks and Resorts destination. Rights holders have until Wednesday 25 May 2016 to exercise their Rights to subscribe for New Shares in Dubai Parks and Resorts.
Raed Kajoor Al Nuaimi, Chief Executive Officer, Dubai Parks and Resorts, stated: “There is no doubt a significant gap exists for theme park destinations in the regional market and Indian sub-continent. We are pleased to see the extent of shareholder support for the Rights Issue, which confirms investor’s appetite to share in the growth of the UAE and of Dubai Parks and Resorts.”
Holders of Rights can subscribe for New Shares through any of the Emirates NBD branches stated in the Rights Issue invitation published on 19 April 2016, the UAE Fund Transfer System (FTS) through any UAE bank branch, Emirates NBD ATMs (Emirates NBD customers), Emirates NBD Banknet system (Emirates NBD Customers) or online through the DFM eIPO system, or directly, or through, their broker/custodian. For further information on how to subscribe please refer to the “How to Subscribe” publication: (http://www.dxbentertainments.com/investor-relations/wp-content/uploads/sites/3/2016/04/How-to-Subscribe-Receiving-Bank_18th-May.pdf)
The allocation of Additional New Shares shall be on a pro-rata basis to the persons who subscribed for Additional New Shares, based on the number of Additional New Shares requested by such persons, at the same issue price as the New Shares.
The Rights Issue, approved by Dubai Parks and Resorts’ shareholders at the General Assembly Meeting held last month, was launched to raise AED 1.68 billion to primarily finance the development of the Six Flags Dubai theme park – an extension of the current Dubai Parks and Resorts offering. Once the Rights Issue has concluded, Dubai Parks and Resorts’ issued share capital will become AED 7,999,912,670. None of the additional capital being raised will be used to fund the existing Dubai Parks and Resorts offering, which is expected to open in October this year.
Six Flags Dubai will be the fourth theme park at the Dubai Parks and Resorts destination and is expected to include around 27 rides and attractions for all ages when it is planned to open in Q4 2019.
Arqaam Capital Limited and Emirates Financial Services PSC are acting as Joint Bookrunners and Joint Lead Managers for the transaction. Emirates NBD Bank PJSC is the Sole Receiving Bank.
For further details please refer to the Rights Issue tab on Dubai Parks and Resorts website (dprcorporate.ae/investor-relations/rights-issue/).
For further information on the transaction structure and subscription process please contact
Emirates Financial Services PSC (Joint Bookrunners & Joint Lead Manager)
Director – Investment Banking
04 303 2884
Emirates NBD Bank PJSC (Receiving Bank)
04 387 4047
About Dubai Parks and Resorts
Dubai Parks and Resorts PJSC (DFM: DUBAIPARKS), is set to be the region’s largest integrated theme park destination comprising three theme parks: motiongate™ Dubai, a movie inspired theme park showcasing some of Hollywood’s most beloved characters from DreamWorks Animation, Sony Pictures Studios and Lionsgate; Bollywood Parks™ Dubai, the first theme park based on the sights and sounds of Bollywood; as well as LEGOLAND® Dubai, a unique, interactive theme park for families which will bring the well-known LEGO® brick to life in a playful learning environment; and LEGOLAND® Water Park, the region’s first water park catering to families with children aged 2-12.
The entire destination will be connected by Riverland™ Dubai – a retail, dining and entertainment walkway located at the heart of the destination and guests can stay at the Lapita™ Hotel, a Polynesian-themed resort catering to families, which will be managed by the Marriott Group.
Set to open in October this year, the AED 10.5 billion development is spread across 25 million square feet of land located on Sheikh Zayed Road, Dubai opposite the Palm Jebel Ali. 6.7 million ticketed visits are projected for 2017, the first full year of operation.
For more information go to: http://dubaiparksandresorts.com
For further information please contact:
Marwa Gouda, Head of Investor Relations, Dubai Parks and Resorts
Jon Earl, Managing Director, FTI Consulting