Circular No. (11)of 2015 Concerning the Investments of Governmental Companies and their Subsidiaries To all governmental companies in the Emirate of Abu Dhabi, Peace and Allah's mercy and blessings be upon

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Circular No. (11)of 2015
Concerning the Investments of
Governmental Companies and their Subsidiaries
To all governmental companies in the Emirate of Abu Dhabi,
Peace and Allah's mercy and blessings be upon you,
The Executive Council is pleased to greet you and express its sincere gratitude
for your continuous cooperation to realise the public interest.
Within the scope of coordination between the General Secretariat of the Executive
Council and the governmental companies in the Emirate, we urge you to obtain
the approval of the Executive Council before:
Any operation of sale of the assets or investments owned by the Company
or any of the subsidiaries, by filling the enclosed form and providing us
with the investment plans of your company and the subsidiaries, in
addition to the future strategic plans and any amendments occurring
thereto in the future.
1.
Investment in any new projects inside or outside the Country requiring
governmental support, after providing the Executive Council with the
documents and information stated in the enclosed explanatory presentation
and not publishing any information concerning these projects in the media.
2.
Entering into loan transactions or issuance of debts for your company or
your subsidiaries, with the necessity of prior coordination with the Public
Debt Office at the Department of Finance in case the debt is guaranteed
by the government.
3.
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For enquiries:Please contact Mr. Ammar Mohammed Al Bahaith - Project Manager at the Office of
State Owned Enterprises at the General Secretariat of the Executive Council on telephone number:
056/9127555-026688194 or by e-mail: Governance@ECOUNCIL.AE
Attachment:
-Explanatory presentation on the required documents and information of the new investments
-Form of sale of assets
Dr. Ahmed Mubarak Al Mazrouei
Secretary-General
Guaranteeing the debts of any of your subsidiaries, the companies in
which you invested, coalition companies or any relevant third parties and
instructing your subsidiaries to abide by the same.
4.
Please advise the concerned persons to provide us with the following:
Preparing an annual list of all the assets owned by your company and its
subsidiaries (if any) and submitting them to the General Secretariat of
the Executive Council, with a detailed indication to all the sold assets,
the profits or losses resulting from such sale and the assets purchased
during the year.
•
We value your efforts and thank you for your cooperation.
For your necessary action
May Allah guide you
Date: 14/04/2015
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