Post by dave4 on May 25, 2022 13:19:57 GMT
25/5/2022 (copied/past.
Just by way of update, we have updated our investment structure. There is no impact on you in this regard and we are simply sharing this update to keep investors informed.
To date, investors would invest by way of an equity subscription for ordinary shares into an SPV managed by Qardus, which in turn uses such proceeds to provide financing to Qardus customers by way of a commodity murabaha agreement.
Going forward, we are simply amending this structure such that a portion of the investors' committed amounts to a project will be used to subscribe to equity non-voting B shares in a Qardus SPV that give you rights to receive dividend payments from the SPV. The investors' remaining committed amounts will be invested by way of an interest-free shareholder loan to the Qardus SPV that will be repaid over the term of the facility.The commodity murabaha structure between the SPV and the Qardus customer will remain unchanged.
As mentioned, this is just a structural change and does not impact on the commercial outcomes or investment profile of your investments. The structural change was approved by Mufti Faraz Adam our Sharia scholar.
The reason we are implementing this structural change is to ease an administrative burden for Qardus and the SPVs it manages that should be ultimately beneficial for all parties involved.
To learn more, please read our updated Investor Terms and Conditions "freely available on website".
Thanks in advance,
Qardus Team
Just by way of update, we have updated our investment structure. There is no impact on you in this regard and we are simply sharing this update to keep investors informed.
To date, investors would invest by way of an equity subscription for ordinary shares into an SPV managed by Qardus, which in turn uses such proceeds to provide financing to Qardus customers by way of a commodity murabaha agreement.
Going forward, we are simply amending this structure such that a portion of the investors' committed amounts to a project will be used to subscribe to equity non-voting B shares in a Qardus SPV that give you rights to receive dividend payments from the SPV. The investors' remaining committed amounts will be invested by way of an interest-free shareholder loan to the Qardus SPV that will be repaid over the term of the facility.The commodity murabaha structure between the SPV and the Qardus customer will remain unchanged.
As mentioned, this is just a structural change and does not impact on the commercial outcomes or investment profile of your investments. The structural change was approved by Mufti Faraz Adam our Sharia scholar.
The reason we are implementing this structural change is to ease an administrative burden for Qardus and the SPVs it manages that should be ultimately beneficial for all parties involved.
To learn more, please read our updated Investor Terms and Conditions "freely available on website".
Thanks in advance,
Qardus Team
