Gulf Navigation Holding PJSC

Ticker/ISIN

GULFNAV

AEG000601019

Market/Country

Dubai Financial Market

United Arab Emirates

Latest Stock Price

6.13 AED

2024-09-06

Year to date

-0.17 %

3 months

-0.10 %

6 months

-0.01 %

1 year

-0.13 %

3 years

0.00 %

5 years

0.00 %

Gulf Navigation Holding (“the Company”) changed its legal form to Public Joint Stock Company and became Gulf Navigation Holding PJSC in October 2006. The Company is a holding company with shipping and maritime related activities undertaken through its subsidiaries. The business areas encompass marine transportation of commodities, chartering of vessels, ship agencies, marine transport undertaken by special passengers and merchant contracts, clearing and forwarding services and container loading, unloading, discharging and packing services etc.

Latest Pressrelease Summaries

Gulf Navigation Holding PJSC, a maritime and shipping company listed on the Dubai Financial Market, reported a net loss of AED 24.7 million for the first half of 2024. Despite the loss, the company has made strategic decisions and investments to strengthen its fleet and improve operational efficiency and sustainability. Two petrochemical tankers underwent maintenance and upgrades to extend their operational life by five years, enhancing revenue and efficiency. The company is also focusing on reducing carbon emissions in line with UAE directives and International Maritime Organization regulations. These initiatives are expected to improve long-term shareholder value and operational efficiency. Additionally, the company anticipates increased demand for petrochemical shipping services in the second half of the year. The Board of Directors also noted progress in the anticipated deal with Brooge Energy Limited, which is expected to move forward in the coming weeks with necessary approvals. The acquisition will be paid through a combination of cash, mandatory convertible bonds, and new shares.

Disclosure: Press release

a month ago

On 24 July 2024, a Board of Directors meeting for Gulf Navigation Holding PJSC was held. The meeting took place at 10:00 am and included discussions and approvals of regular company matters and other business. The official communication was addressed to H.E. Hamed Ahmed Ali, CEO of Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority. The notice was signed by Nader Muqbel, Investor Relations Director of Gulf Navigation Holding PJSC.

Disclosure: Results of BOD Meeting

2 months ago

The text is a formal notification from Gulf Navigation Holding PJSC regarding an upcoming Board of Directors meeting. The meeting is scheduled for Wednesday, 24 July 2024, at 10:00 am. The agenda includes regular matters and any other business of the company. The notification is addressed to H.E. Hamed Ahmed Ali, CEO of Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority, both located in the United Arab Emirates. The letter is signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.

Disclosure: BOD meeting

2 months ago

The text is a formal communication from Gulf Navigation Holding PJSC, dated 1 July 2024, addressed to H.E. Hamed Ahmed Ali, CEO of Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority in Abu Dhabi. The letter informs them about a Board of Directors meeting scheduled for 3 July 2024 at 3:00 pm. The agenda for the meeting includes considering the resignation of Mr. Mazen Jaber Al Dahmani from his position as a Board Member and appointing a new member, discussing updates on the acquisition of companies and assets owned by Brooge Energy Limited, including transaction settlement through cash, issuance of mandatory convertible bonds, and new shares, and reviewing the valuation report related to the transaction. Additionally, the meeting will cover regular company matters and any other business. The letter is signed by Nader Muqbel, Investor Relations Director at Gulf Navigation Holding PJSC.

Disclosure: BOD meeting

2 months ago

Gulf Navigation Holding PJSC has announced that its Board of Directors will issue a resolution by circulation on Wednesday, 3 July 2024, at 3:00 PM. The agenda includes considering the resignation of Mr. Mazen Jaber Al Dahmani from his position as a Board member and appointing a new Board member to fill the vacant position. Additionally, the Board will address regular matters and any other business of the Company.

Disclosure: BOD meeting

3 months ago

On 28 June 2024, Gulf Navigation Holding PJSC announced the resignation of Mr. Mazen Jaber Al Dahmani from his position as a Board member, effective 27 June 2024. The announcement was addressed to H.E. Hamed Ahmed Ali, CEO of Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority. The communication was signed by Nader Muqbel, Investor Relations Director.

Disclosure: Resignation of BOD member

3 months ago

On June 11, 2024, Gulf Navigation Holding PJSC held a Board of Directors meeting. The following decisions were made: 1. Accepted the resignation of Mr. Mohamed Abdulrahman Amiri from his position as Vice Chairman. 2. Approved the appointment of Mr. Ahmad Kilani as a new Executive Board member, subject to approval at the upcoming general assembly meeting. 3. Elected Dr. Abdulrahman Mahmoud AlAfifi as the new Vice Chairman of the Board. 4. Discussed updates on the acquisition of companies and assets owned by Brooge Energy Limited, presented the results of legal and financial due diligence, and authorized Mr. Ahmad Kilani to negotiate and sign the Term Sheet. 5. Approved regular matters and other business of the Company. The communication was signed by Nader Muqbel, Investor Relations Director at Gulf Navigation Holding PJSC.

Disclosure: Results of BOD Meeting

3 months ago

The text is a template for a Proxy or Power of Attorney form for shareholders of the Gulf Navigation Holding Company. After filling out the form, shareholders are to send it, along with any necessary supporting documents, to CapitalMarketsTeam@adcb.com. The proxy allows a named individual to represent the shareholder and vote on their behalf at the Annual General Assembly meeting, which will be held both in person and virtually on April 29, 2024, or any adjourned meeting. The form also requires the contact details of the shareholder, the date, and the shareholder's signature. The name and contact details of the financial broker or entity that approved or verified the proxy are also required.

Disclosure: Invitation of General Assembly

5 months ago