GDR Questions and Answers

What is a Global Depositary Receipt?

A Global Depositary Receipt (GDR) is a negotiable instrument issued by a depositary bank in international markets that evidences ownership of shares in a foreign company, enabling the company (issuer) to access investors in capital markets outside its home country.

GDR's are quoted and traded in U.S. dollars, pay dividends in U.S. dollars and are subject to the trading and settlement procedures of the market in which they are transacted; the London Stock Exchange.

DAMAC Real Estate Development Limited (‘DAMAC’) GDR's are issued by Citibank N.A.

Who can buy GDRs?

GDR's are offered to institutional investors through a private offering, in reliance on exemptions from registration under the Securities Act of 1933.

These exemptions are Regulation S (Reg. S) for non-U.S. investors, and Rule 144A for U.S. investors that are Qualified Institutional Buyers (QIB's).

What are the benefits of GDR's for Investors?

GDR's allow investors to globalize and diversify their investment portfolios whist investing in a security that trades, clears and settles according to home market conventions. This eliminates cross-border custody/safekeeping charges and allows investors to receive dividend payments in U.S. dollars.

Where is DAMAC’s GDR listed and traded?

The listing venue for DAMAC’s Reg. S GDR's is the London Stock Exchange. The Rule 144A GDRs trade in the U.S. over-the-counter market.

The underlying shares of DAMAC are not listed or traded in any market but are held in custody by Citibank N.A. London.

What is the GDR ratio?

Each GDR represents a specific number of underlying ordinary shares in DAMAC on deposit with the custodian.

DAMAC’s ratio is 1 GDR = 3 Ordinary Shares

What are DAMAC’s GDR programme details?

DAMAC Real Estate Development Limited Reg S GDR

DAMAC Real Estate Development Limited 144A GDR

How do I contact DAMAC’s Depositary Bank?

Key Broker contact details at Citibank N.A. are:

New York:
Jason Zoppel/Michael O’Leary:
Telephone:+1 212 723 5435 

London:
Mike Woods
Telephone +44 (0) 207 500 2030
E-mail:
Website: www.citi.com/dr