Tags
Ali Al Shihabi, AUM, EIIB, European Islamic Investment Bank, Guy Thomas, HBG Holdings, HBG Management Partners, Rasmala Holdings Limited, shareholder activism, tender offer, Zak Hydari, Zulfi Caar Hydari
Here’s a copy of a letter I’ve forwarded to EIIB’s CEO & board:
‘January 26, 2014
FAO: Zulfi Caar Hydari, CEO
CC: H.E. Abdallah Yahya Al-Mouallimi, Chairman
Mohammed Abdul Aziz Ibrahim Al Sarhan, Sr. Ind. Director
John Robertson Wright, Non-Exec. Director
Michael Willingham-Toxvaerd, Non-Exec. Director
Martin Gilbert Barrow, CBE, Non-Exec. Director
European Islamic Investment Bank plc (EIIB:LN)
Milton Gate
60 Chiswell Street
London EC1Y 4SA
United Kingdom
Dear Zak,
I’m writing this letter with the full support & active input of Guy Thomas (CIO, Hazell Carr Edwards FURB) and Ali Al Shihabi (founder & former Chairman of Rasmala Holdings Limited (‘Rasmala’)). You’ve obviously spoken & emailed with each of us, jointly or separately, on numerous occasions. We currently own an aggregate stake of between 4% and 5% in EIIB. In the last annual report, you stated ‘in 2013 we will begin to focus attention on translating our success into improved share price performance’. We’re disappointed by the subsequent lack of progress, and disturbed by a number of recent developments. To summarize: