National Central Cooling Company PJSC (‘Tabreed’), the Abu Dhabi-based utility company, today announced that it has received a Ministerial Resolution from the UAE Ministry of the Economy approving its planned capital increase in relation to its 08 Sukuk. The announcement today follows the approval by 08 Sukuk holders for Tabreed’s tender offer as disclosed by Tabreed on 28th March 2011.

The Company’s tender offer for the 08 Sukuk formed a part of Tabreed’s recapitalization program – approved by Tabreed shareholders on 30th May 2010 and which completed in its entirety on 1st April 2011. The completed recapitalization program provides the Company with a stable capital structure and long-term funding for future growth.