Addax Bank distributes notable dividends to investors in Addax Jordan Holding Co. WLL

Date : 12 September 2011

Manama, Kingdom of Bahrain, 12 September 2011: Addax Bank (“Addax”), a leading Bahrain-based wholesale bank serving the GCC region, today announced the immediate cash payment of a 23% dividend distribution to investors in Addax Jordan Holding Co. WLL (“Addax Jordan”).
Mr. Wael Aburida, Acting Chief Executive Officer and Board Member of Addax Bank, said: “The dividend payment by Addax Jordan demonstrates Addax Bank’s ability to deliver superior performance and continue to add value to its esteemed GCC clients, despite today’s challenging market conditions.”
Recognizing the potential for private equity investments in Jordan, Addax Bank established Addax Jordan in 2007 in order to acquire a meaningful stake in Jordan Dubai Capital (“JDC”). Addax funded Addax Jordan by investing its own proprietary capital and successfully raising funds from over 50 GCC institutions and high net worth individuals.
JDC is a private equity company capitalized at JOD 210 million (USD $296 million) that invests in Jordan-based opportunities focused on energy & infrastructure, financial services, and real estate development in Jordan.  Recently, Jordan Dubai Capital successfully exited two energy investments in Jordan namely Central Electricity Generating Company and Kingdom Electricity Company.
Mr. Aburida added: “Addax Bank’s decision to remain focused on regional investments in key sectors such as financial services, education, infrastructure, and hospitality has proven to be effective. We are confident that this dividend will be followed by further successes as we continue to deliver results to our shareholders and clients.”