Press releases, Reports & Disclosures for GFH Financial Group B.S.C
GFH Financial Group B.S.C. announced its market-making activities for October 2024, in compliance with the Central Bank of Bahrain's requirements for monthly disclosures by listed companies. The announcement details the transactions conducted by GFH's liquidity providers: SICO on the Bahrain Bourse and BHM Capital on the Dubai Financial Market and Abu Dhabi Securities Exchange. As of October 31, 2024, GFH held 207,500,896 treasury shares, representing 5.4% of the group's total outstanding shares. During the month, SICO purchased 371,469 securities and sold 1,030,750 securities on the Bahrain Bourse, with total payments of USD 124,831 and total receipts of USD 345,215.
GFH Financial Group B.S.C. has announced a webcast for its third-quarter financial results for 2024, covering the period ending on September 30, 2024. The webcast is scheduled for Wednesday, November 13, 2024, at 01:00 pm Bahrain time. Shareholders and investors are invited to follow the broadcast. The announcement was made by Mariam Jowhary, Head of Compliance & AML, and is officially sealed by the company.
GFH Financial Group B.S.C. announced a partnership with Infracorp and Kempinski to launch the Harbour Heights Kempinski Hotel and exclusive branded residences. This announcement was made during the Gateway Gulf Forum 2024. The investment is expected to positively impact the group's financial statements and increase returns. The announcement was signed by Mariam Jowhary, Head of Compliance and AML.
GFH Financial Group B.S.C. announced the launch of its innovative investor mobile application at the Future Investment Initiative (FII) in Riyadh, Saudi Arabia. This investment is expected to have a positive impact on the group's financial statements and increase its returns. The announcement was made by Mariam Jowhary, Head of Compliance and AML. Further details are available in the attached release.
GFH Financial Group announced the successful pricing of a US$500 million 5-year Sukuk, as part of its international Sukuk program. The final orderbook exceeded US$2 billion, indicating an oversubscription of more than four times. The transaction was priced approximately 240 basis points tighter than GFH's previous issuance in 2020, compared to the US Treasury benchmark. International investors were allocated more than 50% of the issuance, with the rest going to regional and local investors. This transaction is expected to positively impact the financials and increase returns for the Group.
GFH Financial Group B.S.C. and Ithmaar Holding B.S.C. have announced that they are still in the process of negotiating GFH's acquisition of Ithmaar's financing and investment portfolios, which is subject to regulatory approvals. Shareholders will be regularly updated on any developments. The expected financial impact will be disclosed in due course. Previous announcements regarding these discussions were made on 6th March, 7th April, 6th May, 6th June, and 19th September 2024. The announcement was made by Mariam Jowhary, Head of Compliance and AML.
On October 14, 2024, GFH Financial Group B.S.C. announced the results of its Ordinary General Meeting. The meeting, held with a quorum of 39.14%, included the minutes of the meeting, a report on the quorum, a voting report on the agenda items, and observations from shareholders or their representatives. The announcement was made by Mariam Jowhary, Head of Compliance & AML, and was accompanied by the company seal.
The ordinary general meeting of GFH Financial Group B.S.C. was held on October 9, 2024, from 11:00 am to 11:40 am Bahrain time, via visual communication means. The meeting was chaired by Mr. Hisham Alrayes, with a quorum attendance of 39.14%. The following agenda items were approved: 1. The minutes of the previous meeting held on March 24, 2024. 2. The Board of Directors' recommendation to establish a Sukuk Programme valued at up to USD 500 million through a Special Purpose Vehicle, pending necessary regulatory approvals. Shareholders also approved the issuance of Sukuk worth USD 500 million in one or more tranches. 3. Modifications to the terms and conditions of the existing USD 500 million Sukuk due in 2025, including an offer for early redemption. 4. Delegation of authority to the Board of Directors to execute the Sukuk Programme and Offer, including obtaining necessary approvals, concluding agreements, and taking actions deemed essential.
The Ordinary General Meeting of GFH Financial Group B.S.C. was held on October 9, 2024, via visual communication, chaired by Mr. Hisham Alrayes. The meeting achieved a quorum of 39.14% attendance. During the meeting, the following agenda items were approved: 1. The minutes of the previous meeting held on March 24, 2024. 2. The Board of Directors' recommendation to establish a Sukuk Programme valued at up to USD 500 million through a Special Purpose Vehicle, contingent on obtaining necessary regulatory approvals. Shareholders also approved issuing Sukuk worth USD 500 million in one or more tranches through the SPV. 3. Modifications to the terms of the existing USD 500 million Sukuk due in 2025, issued in 2020, including an offer for early redemption of the certificates. 4. Delegation of authority to the Board of Directors or their delegates to execute the Sukuk Programme and Offer, including obtaining necessary approvals, concluding agreements, and taking essential actions as per the agreements related to the Sukuk Programme and Offer.
GFH Financial Group B.S.C. announced that it has increased its stake in Khaleeji Bank B.S.C. from 57.95% to 82.95%, effective from September 30, 2024. This represents a 25% increase in their ownership. The investment is expected to have a positive impact on the group's financial statements and increase its returns. The announcement was made by Mariam Jowhary, Head of Compliance and AML.