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Drake & Scull International P.J.S.C

Drake & Scull International P.J.S.C

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Pressreleases, Reports and Disclosures for Drake & Scull International P.J.S.C

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Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: BOD meeting

On July 30, 2024, a letter was addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, regarding the seventh Board of Directors meeting of 2024 for Drake & Scull International PJSC. The meeting is scheduled for Friday, August 2, 2024, at 3:00 PM at the company's offices. The agenda includes reviewing and approving the previous meeting's minutes, appointing a new Chairman and Vice Chairman of the Board, appointing new Chairmen and members to the Company's subsidiary committees, and appointing a Board Secretary.

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: Resolutions of General Assembly

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: Notification from the company

Date: 30 July 2024 Mr. Hamed Ahmed Ali CEO, Dubai Financial Market Dubai, United Arab Emirates Subject: Notification regarding withdrawal from candidacy for membership in the Board of Directors of Drake & Scull International PJSC The company announces that Mr. Shafiq Abdel Hamid, the current Chairman of the Board of Directors, has submitted a request to withdraw from candidacy for membership in the next Board of Directors. The company, represented by its Board of Directors and Executive Management, extends its sincere thanks to Mr. Shafiq Abdel Hamid for his efforts during his term, which included completing the restructuring process that ensured the company's continuity. Sincerely, Board Secretary Dana Abu Alghanam

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: Notification from the company

On July 29, 2024, Drake & Scull International PJSC informed its shareholders that the Dubai Court of Appeal issued a judgment in its favor in case No. 1985/2021 Commercial Appeal. The court ruled that Khaldoun Rashid Tabari, the former CEO of Drake & Scull, and Saleh Muradweij are jointly and severally liable to pay the company AED 151,979,857 as compensation for material and moral damages, along with legal interest of 5% from the date the judgment becomes final until full payment is made. The judgment is subject to appeal. The company has initiated enforcement procedures and secured attachments on the defendants' assets.

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: Financial statements for the 2n QTR of 2024

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: Press release

Drake & Scull International announced its Q2 2024 financial results, highlighting a net profit of AED 3.79 billion. The company achieved this profit following the completion of a six-year restructuring plan, which included write-offs of debt, legal provisions, and bank interest totaling AED 4.1 billion. Excluding the profit from the restructuring settlement, the company reported a semi-annual net profit of AED 30 million. Additionally, the company's equity improved from a deficit of AED 4.4 billion at the end of 2023 to a positive AED 180 million by June 30, 2024. The Chairman of the Board, Engineer Shafiq Abdelhamid, expressed satisfaction with the company's return to profitability despite facing significant financial, legal, and operational challenges.

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: Results of BOD Meeting

Date: 29 July 2024 Mr. Hamed Ahmed Ali CEO - Dubai Financial Market Dubai - United Arab Emirates Subject: Board of Directors Meeting Number 6 of 2024 of Drake & Scull International PJSC (the “Company”) The Board of Directors of Drake & Scull International PJSC held its sixth meeting of 2024 on Friday, 26 July 2024, at 3:00 PM at the Company’s offices. The results are as follows: 1. The Board of Directors approved the previous minutes of the meeting. 2. The Board of Directors reviewed and approved the company’s unaudited financial statement for the second quarter of 2024. 3. The Board of Directors discussed routine and operational matters of the Company. Sincerely, Dana Abualghanam Board Secretary

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: Clarification from the company regarding the accumulated losses

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: Postponing General Assembly

Date: 24th July 2024 Mr. Hamed Ahmed Ali Chief Executive Officer Dubai Financial Market Dubai - United Arab Emirates Dear Sirs, Subject: Postponement of the Annual General Assembly Meeting of Drake & Scull International P.J.S.C The quorum for the Annual General Assembly Meeting of Drake & Scull International P.J.S.C was not met. Consequently, the meeting has been rescheduled to Tuesday, 30th July 2024 at 3:00 PM at the same location. Sincerely Yours, Dana Abualghanam Board Secretary

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: BOD meeting

The Board of Directors of Drake & Scull International PJSC will hold its sixth meeting of 2024 on Friday, July 26, 2024, at 3:00 PM at the company's offices. The agenda includes reviewing and approving the previous meeting's minutes, reviewing and approving the unaudited financial statement for the second quarter of 2024, and discussing the company's routine and operational matters. The notice is signed by Shafiq Abdulhamid, Chairman.

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: Notification from the company regarding the statement issued by the Board of Directors

1. Attached Document

Dubai Financial Market News profile image
Dubai Financial Market News
a year ago
News Update From Drake & Scull International P.J.S.C
Disclosure: Nominees for Board of Directors membership

Date: 12 July 2024 Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, Dubai - United Arab Emirates H.E. Dr. Maryam Buti Al Suwaidi, Chief Executive Officer - Securities and Commodities Authority, Abu Dhabi - United Arab Emirates Subject: Nominees list for the membership of the Board of Directors of Drake and Scull International PJSC (the "Company") The nomination period for the Board of Directors’ membership of Drake and Scull International PJSC closed on Thursday, 11 July 2024. The following individuals have met the nomination requirements for the Board of Directors: 1. H.H. Shaikh Theyab Bin Tahnoon Bin Mohammad Al-Nahyan 2. Dr. Abdul Rahman Mahmoud Al Afifi 3. Mr. Shafiq Abdelhamid 4. Mr. Abdulla Atatreh 5. Mr. Ahmad Kilani 6. Mr. Mustafa Kheriba 7. Mr. Abdulrahman Alali 8. Mrs. Mia Zecevic 9. Mr. Mohamed Aldhaheri 10. Mr. Mohamed Al-Ali 11. Mrs. Khulood Qayed Sincerely, Dana Abualghanam Board Secretary

1. Attached Document

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