TIDM93DS

RNS Number : 0007D

TFG Sukuk I Limited

24 June 2021

Name: TFG Sukuk I Limited

Date: 24 June 2021

The First Group ("TFG") would like to announce that it has received the consent of Sukukholders to permanently amend the terms and conditions of the senior secured Sukuk issued by TFG Sukuk I Limited, in order to remove the requirement to fund the Rental Reserve Account, with 100 per cent. of respondent Sukukholders voting in favour of the amendment. TFG, a leading developer and manager of hospitality assets in the UAE, first received consent from Sukukholders to waive the requirement to fund the Rental Reserve Account in August 2020, during the height of Covid-19 restrictions. Although TFG has since seen a rebound in its business, as travel restrictions ease, it believes that it is prudent to remove the requirement to fund the Rental Reserve Account to maintain a liquidity reserve.

About The First Group: Headquartered in Dubai, UAE, The First Group is a dynamic, integrated global property developer with a fast-growing portfolio of upscale hotels, residential properties, F&B brands and real estate asset management services. Since its launch, TFG has carved a highly successful niche offering unrivalled property investment opportunities to clients from more than 120 countries worldwide.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCPPUGCQUPGUBC

(END) Dow Jones Newswires

June 24, 2021 10:00 ET (14:00 GMT)

Tfg Sukuk 24 (LSE:93DS)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Tfg Sukuk 24 Charts.
Tfg Sukuk 24 (LSE:93DS)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Tfg Sukuk 24 Charts.