Tejoori Limited, the first Shari’a-compliant investment company listed on the Alternative Investment Market (AIM) of the London Stock Exchange, released on Wednesday worst than expected results for the period ending June 2008.
Key highlights:
- Loss of US$1,141,297
- Available cash as of 30 June 2008 of USD was a mere $160,000, no comment on current cash was made in the results.
Tejoori, a spectacular failure since its listing on the AIM market in March 2008 has seen its share price plummet from a high of $1.50 to around 0.88cents.
Chairman of the Tejoori board Mr Mohammed Abdullah Al Zaabi warns of more pain ahead by stating an over exposure to the flagging Dubai property market.
No one from Tejoori was available for further comment on Wednesday.
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