Emirat Ras Al Khaimah: 1,5 Milliarden Dirham Startkapital für Bildungsunternehmen

Seine Hoheit Scheich Saqr bin Mohammed Al Qasimi, Mitglied im höchsten Rat und Gesetzgeber im Emirat Ras Al Khaimah (RAK), gab die Gründung eines neuen RAK-Bildungsunternehmens bekannt. Die private Aktiengesellschaft wird mit 1,5 Milliarden Dirham Startkapital in der Freihandelszone des Emirats RAK gegründet.


RAK to create Dh1.5 billion education firm
Khaleej Times - 08 December, 2006

His Highness Shaikh Saqr bin Mohammed Al Qasimi, Supreme Council Member & Ruler of Ras Al Khaimah, issued an Emiri Decree No. (5) of year 2006 announcing the establishment of the new RAK Education Company (EDRAK). The private joint stock company is to be established in RAK Free Zone with a start-up capital of Dh1.5 billion.

"Investment & Development Office (IDO) acknowledges that education is a key factor for prosperity and welfare and is also an excellent investment opportunity and by starting this education initiative, EDRAK, the emirate will be taking a leap towards a better future," said the IDO's Chief Executive, Dr. Izzat Dajani.

The capital of the Company shall be the sum of (Dh1.5 billion), divided into (1.5 billion shares) and the nominal value of each share is (Dh1). The initial shareholders shall subscribe to one billion (1,000,000,000) shares, while the remaining 500 million shares will be offered for subscription, either by way of private placement or by way of initial public offering (IPO) according to the decision of the board of directors, which will be comprised of at least 5 members.

The Company's head office will be located in Ras Al Khaimah and subject to decisions by its Board of Directors; it may establish branches and offices thereof in the United Arab Emirates and abroad. The company may also be transformed into a (Public Shareholding Company Limited) later on.

Furthermore, EDRAK may invest in all educational opportunities of all types and at all levels anywhere regionally and globally that it deems beneficial to the Company.

The main objectives of the company are to carry on business in all education levels in addition to providing world class boarding facilities through its different ventures. EDRAK also aims to support the socio-economic growth and development plans in UAE and Ras Al Khaimah maximising shareholders' value.