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.
As at awaited:
- There are currently awaited London Good Delivery gold bars, totaling awaited ounces (awaited tonnes) being held by the Custodian HSBC Bank USA, N.A.
- A total of Dubai Gold Securities are in issue.
- Each security is currently entitled to awaited% of 0.10 ounce of gold bullion. This means that awaited ounces are held on behalf of holders of Dubai Gold Securities. The remainder of awaited ounces is held on behalf of DGS LLP.
To view a list of all gold bars being held by the Custodian for holders of Dubai Gold Securities, please click here.
The Gold Bar List will be updated at the end of each week.
