Tejoori mulling ways to maximise value of Arjan Plots

Dubai-based Shari'a-compliant investment company Tejoori is considering options relating to its acquired Arjan plots, an update from the company has disclosed.

Dubai-based Shari'a-compliant investment company Tejoori is considering options relating to its acquired Arjan plots, an update from the company has disclosed.

Abdullah Lootah, Chief Executive Officer of Tejoori, told investors at an annual general meeting on Saturday February 9th: "Since acquiring the Arjan plots in December 2012, the board has been evaluating options in order to attempt to maximise the value of this investment.

"This may include selling the plots in their current state or developing the plots before selling them. As part of this evaluation we have held discussions with a highly regarded development company for the potential for them to be the company's development partner should the board decide to proceed down this route. We look forward to updating shareholders on our strategy for the Arjan plots in due course."

Tejoori's share price was unchanged at $0.40 at 08:00 on Monday.

MF

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