On October 9, 2026, Qatar International Islamic Bank (QIIB) announced significant developments regarding its trust certificates, specifically related to a consent solicitation. This communication is intended for the holders of these certificates, detailing the results of their recent voting process.
Overview of the Consent Solicitation
On September 22, 2026, QIIB’s Trustee initiated an invitation for certificateholders to approve changes to the terms and conditions governing the trust certificates. This proposal aims to facilitate the Trustee’s transition from the Cayman Islands to the Qatar Financial Centre. Details are encapsulated within the Consent Solicitation Memorandum issued on the same day. The invitation’s main goal is to garner consent for the proposed amendments, which are crucial for aligning the governance of the certificates with the new jurisdiction.
Voting Results at the Expiration Deadline
As of 4:00 PM (London time) on October 9, 2026, the Trustee received valid Electronic Voting Instructions from certificateholders. The results highlighted a strong inclination towards the proposed amendments. For the Series 3 certificates, a total of $341,223,000 in votes were cast in favor of the Extraordinary Resolution, while only $4,342,000 opposed it. Similar trends were observed for the Series 4 certificates, with $265,412,000 voting in favor against just $300,000 in opposition. Notably, no certificateholders abstained from voting for either series.
Upcoming Meetings for Certificateholders
To further deliberate on the Extraordinary Resolution, meetings will be held at the offices of Simmons & Simmons LLP in London on October 14, 2026. Certificateholders are encouraged to participate as the meetings aim to address the proposed amendments, contingent upon the quorum requirements being satisfied. These gatherings are deemed essential for finalizing the modifications that will enhance the operational framework surrounding the trust certificates.
Additional Information and Resources
For certificateholders seeking deeper insights or additional details, the Consent Solicitation Memorandum is available through the Transaction Website, although access requires registration. Interested parties can also reach out to the Information and Tabulation Agent for copies or clarification regarding the voting process and upcoming meetings. The Solicitation Agent, Standard Chartered Bank, and the Information and Tabulation Agent, Sodali & Co Limited, are designated contacts for further inquiries.
In summary, QIIB’s recent announcement reflects a dynamic engagement with certificateholders concerning important structural changes. The results of the consent solicitation signify overwhelming support for the proposed amendments, suggesting a proactive response from stakeholders. Participation in upcoming meetings will be vital for ensuring that the process progresses smoothly, and certificateholders are urged to stay informed for the successful transition of the Trustee to its new jurisdiction within Qatar.