Notice to Creditors of Union National Bank PJSC

Following the announcement on 29 January 2019, that Abu Dhabi Commercial Bank PJSC (ADCB) and Union National Bank PJSC (UNB) intend to merge and together acquire Al Hilal Bank (AHB), we would like to update you on your rights, if you are a creditor of UNB. 


On 21 March 2019, the shareholders of ADCB and UNB passed the necessary shareholder resolutions at their respective general assembly meetings to approve the proposed merger, pursuant to the UAE Federal Law No. 2 of 2015 Concerning Commercial Companies (the Law). ADCB shareholders also approved the acquisition of the entire issued share capital of AHB immediately following the completion of the proposed merger.

The combination of the three banks creates a robust platform to grow the bank’s consumer and wholesale businesses in both conventional and Islamic banking. Greater scale will permit larger scope of financing to support the UAE’s economic agenda for diversification and growth, and also for investment in the bank’s people, technology and infrastructure.

Pursuant to Article 288(4) of the Law, we would like to notify you that if you are a creditor of UNB, you have the right to object to the proposed merger in writing within 30 (thirty) days from the date of this notice at the Head Office of UNB as set out below:

Union National Bank P.J.S.C.
Legal Department
Union National Bank Building, Sheikh Zayed Bin Sultan Street
PO Box 3865
Abu Dhabi, United Arab Emirates

In case of any objection, you would also need to deliver a copy of your objection to the Securities & Commodities Authority (within the 30 day period) at the following address:

The Securities and Commodities Authority
13th Floor Al Gaith Tower - Hamdan Street
Abu Dhabi, United Arab Emirates

Please also visit the dedicated website for the merger at www.beyondambition.com for further information.

We would like to take this opportunity to express our gratitude for your business and look forward to continuing in the same spirit in the future.


Notice to Creditors

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