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Statement regarding Major Holdings

The Company refers to its announcements of 10, 14 and 18 February 2020 and to the legal review being undertaken by Dr Bavaguthu Raghuram Shetty (“Dr Shetty”) and his advisers in order to verify the total interests of Dr Shetty in the ordinary shares of the Company (“Ordinary Shares”).


The Company has received notifications of major holdings from Mr Khaleefa Butti Omair Al Muhairi (“Khaleefa Bin Butti”) and H.E. Mr Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi (“H.E. Saeed Bin Butti”) (the “TR-1s”) and a PDMR/PCA transaction notification from Khaleefa Bin Butti (the “PDMR Notification”).


The TR-1s and PDMR Notification are being published by the Company in the form received, as the Company is required to do under MAR and the DTRs.


The Company is not able to independently verify the information contained in the TR-1s or the PDMR Notification. In particular, the Company wishes to draw attention to Section 11 of each TR-1, which includes, among other things, a list of information in relation to H.E. Saeed Bin Butti and Khaleefa Bin Butti’s holdings or purported holdings of Ordinary Shares that their advisers have been unable to confirm. That list includes the status of 10,900,000 Ordinary Shares that the Company has been notified by H.E. Saeed Bin Butti and Khaleefa Bin Butti’s advisers were held by BRS International Holding Limited (of which Dr Shetty is the sole shareholder) for H.E. Saeed Bin Butti and Khaleefa Bin Butti pursuant to a Memorandum of Understanding dated 31 May 2017, but which, according to notifications sent by Dr Shetty to the Company and published by the Company on 18 February 2020, were sold by First Abu Dhabi Bank between 3 and 6 February 2020. 


The Company continues urgently to seek clarity from each of Dr Shetty, Khaleefa Bin Butti and H.E. Saeed Bin Butti in relation to their respective shareholdings, and encourages Dr Shetty, Khaleefa Bin Butti and H.E. Saeed Bin Butti, and their advisers, to agree the legal position in relation to their ownership of the Ordinary Shares in question without further delay.


Further announcements may be made as and when appropriate.

The individual responsible for releasing this announcement is Simon Watkins, Group Company Secretary.

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Last Updated: 21-Feb-2020