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.
Legal Notice
The material on this website is provided for your general information only and does not constitute the giving of investment advice or an offer to sell or the solicitation of an offer to buy any investment.
Whilst the information contained on this site has been given in good faith and every effort has been made to ensure its accuracy, none of Dubai Gold Securities Limited Liability Partnership (DGS LLP), Dubai Gold Investments, DMCC or Dubai Commodity Asset Management DMCC accepts any responsibility for loss occasioned as a result of reliance placed on any parts of the contents of this web site and makes no warranty as to the accuracy of any such information or content. The terms and conditions applicable to individual investors will be set out in the Offering Document.
The information provided on this site regarding Dubai Gold Securities is not directed to any United States person or any person in the United States, any state thereof, or any of its territories or possessions.
DUBAI COMMODITY ASSET MANAGEMENT DMCC (“DCAM”), which is licensed by the Central Bank of the United Arab Emirates, is responsible for the distribution in the United Arab Emirates (outside the Dubai International Financial Centre (DIFC) only) of this and any materials relating to the securities.
The Dubai Gold Securities are being offered by way of an exempt offer in the DIFC in accordance with the Offered Securities Rules of the Dubai Financial Services Authority (the "Exempt Offer"). In the DIFC, only an investor who is a Professional Client within the meaning of the Dubai Financial Services Authority Rulebook may rely on the contents of this website. If you are not a Professional Client within the meaning of the Dubai Financial Services Authority Rule book, you must not rely on this website or purchase any Dubai Gold Securities. The Dubai Financial Services Authority has no responsibility for reviewing or verifying any documents in connection with exempt offers. The Dubai Financial Services Authority has not approved the contents of this website nor taken any steps to verify the information set out on this website and has no responsibility for it. The Dubai Gold Securities may be illiquid and/or subject to restrictions on their resale. Prospective purchasers of the Dubai Gold Securities should conduct their own due diligence on the securities. If you do not understand the contents of this website you should consult an authorised financial adviser.
Accordingly the information on this website is intended to be viewed only by persons who are Professional Clients or others who fall outside the scope of any law that seeks to regulate financial promotions or offerings of securities in the country of your residence or in the country in which the website is being viewed. If you are uncertain about your position under the laws of the country in which the website is being viewed then you should seek clarification by obtaining legal advice from a lawyer practicing in the country of your residence or in the country in which the website is being viewed before accessing this website.
You should always bear in mind that:
• the market price of Dubai Gold Securities can be volatile and can go up or down.
• past performance is not an indication of expected future performance.
• rates of exchange may affect the value of investments in currencies other than US dollars (the base currency of Dubai Gold Securities).
• applications to invest in Dubai Gold Securities referred to on this website must only be made on the basis of the Offering Document.
• if you are in any doubt about the information contained on this website please contact us or consult you usual professional financial adviser, if you have one.
The description of Dubai Gold Securities on this website is a general one. The terms and conditions applicable to individual investors will be set out in the Offering Document.
Opinions and any other contents on this website are provided by DGS LLP, Dubai Gold Investments DMCC and DCAM for personal use and information purposes only. No information provided on this website in relation to any product or investment should be construed as advice to you on the suitability or otherwise of that product or investment for you or any other person, such suitability depending on all the circumstances of the person concerned. Nothing contained on the website constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision.
Whilst a pronouncement or fatwa has been issued by the Shariah Supervisory Board confirming that, in its view, the proposed issue of Dubai Gold Securities has been structured in compliance with Shariah principles, potential investors should not rely on the pronouncement in deciding whether to make an investment in Dubai Gold Securities and should consult their own Shariah advisors as to whether the proposed issuance of Dubai Gold Securities described in pronouncement is in compliance with Shariah principles.
Website Terms of Use
The following terms of use apply to your use of the Dubai Gold Securities website (“Website”). Each time you access this Website you agree to comply with, and be bound by, the terms of use and acknowledge that we may rely upon your agreement.
Information on this Website
Except where stated otherwise, the information and services on this Website (the "Information") are provided by DGS LLP as at the date indicated on the relevant material.
No Financial Product Advice
The Information on this Website does not constitute a "financial product advice" for any purpose. The Website is provided as an information service only and the information on it should not be relied upon as a substitute for financial or other professional advice. The Information does not take account of the investment objectives, financial situation and particular needs of any particular person and is not general advice to any class of persons. It is not to be construed as financial advice or a recommendation of securities or other financial products. Before making an investment decision on the basis of the Information, you need to consider, possibly with the assistance of a financial and/or taxation adviser, whether the Information is appropriate in light of your particular investment needs, objectives and financial circumstances.
You may not use any part of the material or Information on the Website to establish, maintain or provide or assist in establishing, maintaining or providing a stock market for trading in securities.
Accuracy and Reliability of Information
The Information is provided in good faith and has been derived from sources believed to be reliable and accurate at the date indicated. However, DGS LLP has not verified the information, which may not be complete or accurate for your purposes. DGS LLP may not, and has no obligation to, update the Information or correct any inaccuracy which subsequently becomes apparent. Opinions and estimates in the Information may be changed or withdrawn without notice. Accordingly, none of DGS LLP, Dubai Gold Investments DMCC, DCAM or the directors or officers of those entities makes any representation or warranty of reliability, completeness, fitness for purpose or accuracy of the information or any third party website linked to this Website.
Except where DGS LLP has published disclosure documents on this Website, the Information is not intended as an offer or solicitation, or as the basis for any contract, for the purchase or sale of any security, loan or other instrument.
The Information is assembled from material prepared by DGS LLP or Dubai Gold Investments DMCC but may not include information made known to DGS LLP's officers subsequent to the date of publication of the Information indicated on the Website. If you use the Information, you do so at your own risk and you should consult DGS LLP as to whether or not more recent information is available which will effect your investment decision. Please recognise that the previous performance of securities, gold or other instruments does not guarantee or predict future performance.
Exclusion of Liability
Nothing in these terms excludes, restricts or modifies any condition, warranty or liability which may at any time be implied by statute or any other applicable law where to do so is illegal or would render any provision of an agreement void. Subject to this qualification, all express or implied conditions or warranties, statutory or otherwise, in respect of the information supplied is expressly negated and excluded.
You agree that DGS LLP will not be liable for any damages or loss of any kind whatever (including, without limitation, any liability for consequential loss) arising out of the use by you of, or reliance by any person on the information supplied whether arising from any act, omission, error, misstatement or failure (and whether negligent or not) of DGS LLP, its officers, servants, agents or independent contractors or otherwise.
Copyright
Copyright in the Information is owned by DGS LLP. The Information may not be reproduced, distributed or published by anyone for any purpose without DGS LLP's prior written consent.
Disclosure of Interests
DGS LLP, its related bodies corporate and their respective officers, directors and employees may from time to time purchase, sell, make a market in, or engage in transactions involving the securities or their related derivatives. DGS LLP or its related bodies corporate may also act as advisers or brokers in relation to gold bullion, the shares or other investments. DGS LLP's related bodies corporate may be entitled to receive or may have received a fee for the provision of such services. The directors and officers of DGS LLP or its related bodies corporate may hold directorships in any company referred to in the Information.
DGS LLP or its related bodies corporate are under no obligation to disclose or take account of the Information when advising or conducting business with its clients. DGS LLP and its related bodies corporate may act upon or make use of the information prior to its publication on this Website.
Third party information
Any third-party advertising, information and referral buttons containing hyperlinks are not recommendations or endorsements by DGS LLP or its respective directors, affiliates or employees. The user is referred to the relevant third party for all relevant information, including complete information on that entity's investment adviser or dealer licensing status and licence number (if applicable).
Exchange Traded Gold™, a limited liability company owned by World Gold Council, is the platform through which World Gold Council develops and manages its interests in gold backed securities that trade on regulated stock exchanges around the world. Exchange Traded Gold(tm) securities provide investors with simple, secure, transparent and cost-effective access to gold investment. Each security is backed by physical allocated gold bullion held by a custodian for the benefit of securities holders. World Gold Council sponsors Dubai Gold Securities and is a shareholder in Dubai Gold Investments DMCC, a company that provides certain management services to DGS LLP.
Stock Exchange Prices, Gold Price and Exchange Rates
The prices/values shown in this Website in relation to different underlying securities are based on the prices notified to DGS LLP as the last sale price of the relevant securities on the stock exchange on which they are traded (delayed up to 20 minutes) as at the time and date shown. DGS LLP has not verified any of the stock exchange or other information contained on this Website and it should be verified separately before relying on it. We do not generate the information on the gold price and exchange rate information displayed and used to calculate the "implied local currency gold price". This information is supplied by The Bullion Desk (www.thebulliondesk.com). We cannot guarantee or warrant the accuracy, completeness, or timeliness of this information and you should be aware that Prices and values should on this Website may be delayed. Investors should not rely on the prices displayed on this Website when making investment decisions. Prices and values that appear on the Website may vary throughout the course of, and between, stock exchange trading days, gold market trading times and business days in general. We are not liable for any loss or damages, whether direct, indirect, incidental, special, consequential, or exemplary, that arise from reliance on gold price and exchange rate information displayed on this Website.
Governing Law
These terms of use are governed by the laws of the DIFC and the courts of the DIFC will have exclusive jurisdiction over any disputes arising under them.
