Dubai: Digital Investment Co Ltd, a company incorporated in the British Virgin Islands, on Monday announced that it had transferred its entire holding in Damac Properties to its parent company, Premium Investments.
The 255 million transferred shares represent 4.22 per cent of Damac’s total shares. The company announced that Premium Investment holdings in Damac also stood at 4.22 per cent after the transfer.
The owner of Premium Investment LCC and Digital Invest Co. is Hussain Ali Habib Sajwani, Chairman of Damac. In a statement released on the DFM, the company said the transfer of shares will constitute a reclassification of the non-UAE ownership in Damac from 44.08 per cent to 39.86 per cent. The UAE ownership increased from 55.92 per cent to 60.14 per cent.
