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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