Registration, names and identifiers of THE ULTIMA WORLD DMCC

analysisCopies of the Cyprus register published by registry aggregators show FG BCS LTD as a private limited company, registration number HE 347295, registered on 24 September 2015. An undated copy taken while the company was still shown as active lists ALLYSERA PROPERTIES LTD as its previous name, a registered address at Prevezis 13, Floor 1, Flat 101, 1065 Nicosia, Vitaliy Shelikhovskiy as director and Largos World Limited as secretary. Later copies show the status 'dissolved', one of them dating the dissolution 22 December 2023, the day of the DMCC registration, with a last registered office at Krinou 3, The Oval, Agios Athanasios, Limassol, a last annual return dated 18 October 2020, and Alexey Annenkov as director and Sinirmacorp Limited as secretary. The copies come from private aggregators, the earliest is undated and lists officers different from the later copies and the company's own accounts, and their free pages show neither appointment dates nor shareholders. ^{1 2 3 4 5}

analysisThe company was incorporated under the Cyprus Companies Law, Cap. 113, and since 22 December 2023 has been domiciled and registered as a free zone company in the Dubai Multi Commodities Centre under number DMCC198649. The DMCC Authority's public list of transfers of incorporation records FG BCS LTD DMCC, formerly FG BCS LTD of the Republic of Cyprus, with a registration date of 22 December 2023, a transfer date of 28 December 2023 and service licence DMCC-912051 issued on 28 December 2023; the licence permits investment in commercial enterprises and management. The 2025 note prospectus states that the group sold the Russian segment of its business in 2023 and will continue to operate mainly in the UAE and Cyprus, that the company was redomiciled to the DMCC in December 2023, and that it does not have a website. ^{1 2}

analysisBefore the transfer the company's share capital was 344,000 fully paid shares of EUR 1 each. On its DMCC registration the shares were converted into 50 shares of AED 1,000 each, giving share capital of AED 50,000; the resulting reduction of share capital, USD 333 thousand, was paid to the shareholder in 2024. ^{3 4 1}

analysisThe company was renamed from FG BCS LTD DMCC to THE ULTIMA WORLD DMCC in early 2025. Its Cypriot subsidiary announced on 11 February 2025, when taking the name The Ultima Investments Cyprus Limited, that its parent had changed its name as part of the rebranding. A notice to noteholders published on 20 May 2025 gives 9 January 2025 as the effective date, while the LEI record shows the change of legal name as effective on 6 February 2025; the DMCC register entry for the change was not retrieved. GLEIF's event history also records a change of legal name and of legal and headquarters address effective 22 December 2023, recorded on 16 April 2024, with the previous legal name recorded in Arabic script as the DMCC form of FG BCS LTD; each event is validated by an accounts filing. ^{1 2 3}

analysisThe GLEIF record for LEI 213800GU1EOKGT4JCA10 (golden copy of 15 October 2026) shows THE ULTIMA WORLD DMCC as an active entity registered with registration authority RA000715 under DMCC-912051, jurisdiction AE, created on 24 September 2015, with legal and headquarters address at Unit AG-PF-23, AG Tower, Plot JLT-PH1-I1A, Jumeirah Lakes Towers, Dubai. The LEI was first registered on 18 January 2017, has the status ISSUED with full corroboration and is due for renewal on 26 January 2027. The record names no parent company: both the direct-parent and ultimate-parent fields carry a reporting exception whose reason is not shown. A reporting exception does not itself identify the owner; ownership is documented from other records. ³

analysisThe note prospectuses give the guarantor's address as Unit AG-PF-23, AG Tower, Plot JLT-PH1-I1A, Jumeirah Lakes Towers, Dubai, with a telephone number carrying the Cyprus country code; the e-mail address is on the fgbcs.cy domain in the March 2024 prospectus, which names the guarantor as FG BCS LTD DMCC, and on the theultima.ae domain in the April 2025 one. The March 2024 prospectus describes the guarantor's principal activities as serving as an investment holding and financing company. FINRA's BrokerCheck report on the group's US broker-dealer lists THE ULTIMA WORLD DMCC as a controlling entity with a business address at Prevezis 13, 1st floor, office 101, 1065 Nicosia, Cyprus, effective 9 January 2025: the address recorded in the undated Cyprus register snapshot of FG BCS LTD, not the company's DMCC address. ^{1 2 3}

analysisRussian registry data shown by a company-information aggregator list a 'Moscow branch of the limited liability company FG BCS LTD' with taxpayer number 9909441658, the date 25 May 2020 in the registration field and the activity of a head office, and name Oleg Vladimirovich Mikhasenko as its head as of 15 October 2026. A second card on the same aggregator for the same taxpayer number shows a Novosibirsk address at Sovetskaya Street 37 and the activity of a holding company. The aggregator page does not show the branch's current status, and the second card's dates are hidden. According to Russian tax data shown by an aggregator, FG BCS LTD DMCC was registered with the Russian tax authorities as a foreign organisation under taxpayer number 9909677815 from 24 April 2024 to 19 December 2024, and the registration was no longer active on 15 October 2026. ^{1 2 3}

analysisA Kazakh business directory shows an entity named THE ULTIMA WORLD DMCC (business identification number 230250008707) registered in Astana on 7 March 2025 with foreign ownership and a legal address at Mangilik El 60, Yesil district, and names Alexey Vladimirovich Annenkov as its first head as of 7 September 2026. The directory does not say whether this is a branch, representative office or other registration of the DMCC company, and its activity, founders and branches are hidden. ⁴