The Abu Dhabi Securities Exchange (ADX) and Manazel Real Estate concluded a Registrar Agreement at the ADX Headquarters. The agreement was signed by Mr. Rashed Al Baloushi, CEO of ADX, and Mr. Mohammed Muhanna Al Qubaisi, Chairman of Manazel Real Estate.
The agreement requires for the exchange to provide an electronic stock-saving system for transferring stock ownerships in the company, as well as dismantling mortgage procedures, closure and others, in accordance with existing market laws.
ADX CEO, Mr. Rashed Al Baloushi expressed his satisfaction with the agreement with Manazel and called on its officials to benefit from the integrated services of ADX by taking actions that consider the public interest, similar to those carried out by other private joint-stock companies undertaking agreements with ADX.
Mr. Al Baloushi added:”We look forward to promoting our partnership with Manazel and discovering more opportunities to enhance our capabilities in meeting stakeholders and investor needs, as well as supporting the future vision of the Government of Abu Dhabi. We reaffirm our commitment to meeting the highest standards of excellence, professionalism and professional competence to achieve common goals and anticipations with our strategic partners.”
ADX CEO reiterated "We are working in coordination with the Securities and Commodities Authority (SCA) towards issuing a decision that would allow price shares of private companies to show on the screens of the trading hall in the exchange. This procedure would have an active role in the goal of creating liquidity for the market and companies at a fair price for the companies’ shares, and it would activate the creation of the forces of supply and demand for the shares of these companies.”
From his side, Mr. Mohammed Muhanna Al Qubaisi, Chairman of Manazel, stated:”We thank ADX for all the great services provided by their management team in facilitating our tasks and providing all the necessary logistical support needed. We look forward to more successes this year through our cooperation with ADX.”
It is worthy to note that this agreement is the third registrar agreement signed by ADX. The first two agreements were signed with Injaz Mena Investment Company and Tasweek Real Estate Development and Marketing.