Statement on Dubai Gold Securities
Dubai, 2 February, 2010
Securities Holders will be aware that on 22 December 2009, the DFM announced its planned acquisition of the NASDAQ Dubai. The Press Release announced the consolidation of key market operations functions of the DFM and NASDAQ Dubai.
The current process for creation and redemption of the Dubai Gold Securities is on a T+3 delivery versus payment basis. As a result of this acquisition and the planned consolidation of trading, clearing, settlement and custody processes between NASDAQ Dubai and the DFM, the Directors of DGS LLP are considering whether any necessary steps are required to address any proposed changes in the current operational structure of the NASDAQ Dubai. To address this issue, the Directors of DGS LLP have appointed a sub-committee which will be reviewing any changes proposed and liaising with service providers and advisers to DGS LLP in relation to any steps which need to be taken.
A further announcement on any actions required by the DGS LLP Board and DGS LLP shall be made in due course.
Dubai Gold Securities Limited Liability Partnership (DGS LLP)
Dubai Gold Securities Limited Liability Partnership was formed in January 2009. Its members are the Dubai Multi Commodity Centre Authority and Dubai Commodity Asset Management. It is a special purpose limited liability partnership established solely for the purpose of issuing Dubai Gold Securities.
World Gold Council
World Gold Council (WGC) is a Swiss registered non-profit association of the world's
leading gold producers, established to promote the use of gold. The WGC is represented by a network of offices in the major centres of gold demand around the world and its promotional activities cover markets representing some three quarters of the world's annual consumption of gold.
For further information visit www.gold.org.
Dubai Multi Commodities Centre Authority
The Dubai Multi Commodities Centre Authority (DMCCA), the authority of the Dubai Multi Commodities Centre free zone, is a strategic initiative of the Government of Dubai, and was established pursuant to Dubai (DMCC) Law No. 4 of 2001. The DMCC was created to establish a commodity market place in Dubai, and provide industry-specific market infrastructure and a full range of facilities for the gold & precious metals, diamonds & coloured stones, energy and other commodities industries.
For further information visit www.dmcc.ae/
Dubai Gold Securities Limited Liability Partnership
Directors
| Ahmed Bin Sulayem Dr. David Rutledge Sebastian Couturier |
Dubai Gold Investments DMCC
Directors
| Aram Shishmanian James Lowe Ahmed Bin Sulayem Dr. David Rutledge Sebastian Couturier Nigel Le Quesne |
Registrar
| NASDAQ Dubai Ltd. | |
|---|---|
| Level 7, The Exchange Building Gate District Dubai International Financial Centre P.O.Box: 53536 Dubai, United Arab Emirates Phone: +971 4 361 2222 |
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Custodian
| HSBC Bank USA, National Association | |
|---|---|
| 8 Canada Square London E14 5HQ United Kingdom |
Tony Dean Phone: +44 20 7991 9266 |
Auditor
| Ernst & Young | |
|---|---|
| Al-Attar Business Tower,
28th floor Sheikh Zayed Road P.O.Box: 9267 Dubai, United Arab Emirates Phone: +971 4 332 4000 |
Legal Advisors
| Clifford Chance LLP | |
|---|---|
| 10 Upper Bank Street London EC14 5JJ UK |
Marketing Agent
Dubai Commodity Asset Management DMCC, a limited liability company incorporated in the DMCC free zone in the UAE and in accordance with DMCC's Company Rules and Regulations.
| Dubai Commodity Asset Management DMCC | |
|---|---|
| Almas Tower, Level 950 Jumeirah Lakes Towers P.O.Box: 48800 Dubai, United Arab Emirates Phone: +971 4 390 3899 |
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