SCAP Shariah (Regs)

 

TIDMSCAP 
 
RNS Number : 1315K 
Shariah Capital, Inc 
13 April 2010 
 

 
 
Regulatory Announcement 
Company             Shariah Capital, Inc. 
TIDM                     SCAP 
Headline              Extension of Lock Up and Partial Redemption by DMCCA 
Released             13 April 2010 
 
Shariah Capital, Inc. (SCAP.L) today announced that its Dubai partner, the Dubai 
Multi Commodities Centre Authority (DMCCA), has reconfirmed its commitment to 
build out its joint venture, Dubai Shariah Asset Management (DSAM), with Shariah 
Capital.  Part of that commitment includes the extension of capital commitments 
to DSAM and the underlying DSAM Kauthar Funds. 
 
Of the approximate $253,000,000 of capital and accumulated gains currently 
invested, DMCCA has agreed to maintain a minimum $100,000,000 of investment 
capital in the DSAM Kauthar Funds through 30 April 2011.  Redemptions of 
approximately $100,000,000 will take place on or around 15 April 2010, with DMCC 
reserving the right to redeem approximately $50,000,000 in July, 2010. 
 
The DSAM Kauthar Funds represent DSAM's asset management business initiative. 
Both Shariah Capital and DMCCA will continue to promote the DSAM Kauthar Funds 
and their award-winning 2009 performance results to attract investors and 
explore distributor relationships with qualified institutions. 
 
Shariah Capital also announced that it has successfully assumed full 
responsibility for the Al Safi Trust, the independent, managed account 
alternative investment platform launched in 2008 where Shariah Capital is the 
Shariah advisor. Now, Shariah Capital can work directly with third parties 
regarding direct marketing, structured products, and the creation of new funds 
for the platform.  Shariah Capital intends to expand Al Safi beyond Shariah to 
offer conventional alternative investment solutions as well. 
 
Enquiries: 
Eric Meyer 
Chairman & Chief Executive Officer 
Shariah Capital, Inc. 
Telephone:   +1 203-972-0331 
emeyer@shariahcap.com 
 
Martin Smith 
Investec Investment Banking 
Telephone+44 20 7597 5177 
Martin.smith@investec.co.uk 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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