Qatar First Bank (QFB) has announced its full adherence to disclosure and transparency regulations. Hence, kindly find below all the information available with QFB on the above sale in accordance with the regulatory requirements pursuant to the provisions of Article 2/2 of the Merger and Acquisition Rules:

As for Article 2.2, the following are the required data:

1. The bidder company is called Toban Gravity Company, a Hong Kong-based printing company, which is a private company affiliated to Toban Print Company listed on the Tokyo Stock Exchange. The paid-up capital of Toban Printet Corporation is ين 105 billion, and its board is chaired by Mr. Shinjo Kaniko, and its executive management is headed by Mr. Hidhara Maru.
2. The sale was made through FutureCard Technologies, a subsidiary of the bank, and the subsidiary sold all of its shares in Future Industries Holding, established in the Abu Dhabi global market. Whereas, Future Industries Holding is a holding company whose sole objective is to hold 100% of the shares of Futurecard Industries, which is the operating asset of the acquisition. Futurecard Industries is headquartered in Sharjah, with a paid up capital of AED 20 million. FutureCard Industries is one of the leading companies in the manufacture of smart cards.
3. Qatar First Bank owns 71.3% of FutureCard Technologies. The other shareholders of the company are Mr. Nizar Rajoub, 23%, and Mr. Omar Al Shamsi, 5.7%. FutureCard Technologies holds 100% of Future Industries Holding shares.
4. The acquiring company acquired the bank’s full shares amounting to 71.30%. The offer was for all shares or none.
5. The bank's exit was made with a total amount of 22 million USD.
6. The aim of the acquisition is to grow and expand in the markets of the Middle East region.
7. The graduation process took place during the month of October 2019.
8. Attached herewith the financial statements of FutureCard Industries, which represents the operating asset of the acquisition. As for the bidder, we requested this information and were told it is private.
9. The Futurecard Industries Company is headquartered in Sharjah with a paid up capital of AED 20 million. FutureCard Industries is one of the leading companies in the manufacture of smart cards.
10. The value of the acquisition was US $ 22 million and the process was done through internal sources without using debt or external financing.
11. There is no expected effect of the completion of the sale transaction on the profit and loss account
12. First Qatar Bank will benefit from liquidating this investment and reinvesting it in other, better liquidity investments.
13. As is customary in similar deals, the bank provided guarantees and guarantees equivalent to about $ 3.5 million.
14. This transaction does not entail any conflict of interest.