
GFH Financial Group B.S.C.
Pressreleases, Reports and Disclosures for GFH Financial Group B.S.C.
On November 7, 2024, GFH Financial Group B.S.C. announced details of its market-making activities for October 2024, in compliance with the Central Bank of Bahrain's requirements for monthly disclosures by listed companies. The market-making transactions were 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 October, 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 financial results for the third quarter of 2024, ending on September 30, 2024. The webcast is scheduled for Wednesday, November 13, 2024, at 1:00 pm Bahrain time. Shareholders and investors are invited to attend. The announcement is signed by Mariam Jowhary, Head of Compliance & AML, and includes the company seal.
GFH Financial Group B.S.C. announced the postponement of its Board of Directors meeting, initially scheduled for 7th November 2024, to 12th November 2024. The meeting will begin at 2 p.m. Bahrain time and will cover the financial results for the third quarter of 2024 and other internal matters. This follows a previous disclosure made on 24th September 2024 about the meeting. The announcement was made by Mariam Jowhary, Head of Compliance & AML.
GFH Financial Group B.S.C. announced a partnership with Infracorp and Kempinski to launch the Harbour Heights Kempinski Hotel and exclusive branded residences, coinciding with the Gateway Gulf Forum 2024. This investment is expected to have a positive impact on the group's financials and increase returns. The announcement was made by Mariam Jowhary, Head of Compliance and AML. Further details are available in the attached release.
GFH Financial Group B.S.C. announced a strategic partnership with Panattoni Saudi Arabia to develop 500,000 square meters of modern logistics facilities in Saudi Arabia. This investment is expected to positively impact the Group's financials and increase its returns. The announcement was made by Mariam Jowhary, Head of Compliance and AML, and bears the company seal. Further details are available in the attached release.
GFH Financial Group B.S.C. announced the signing of a preliminary agreement with Gulf Warehousing Company (GWC), a leading logistics provider in the GCC. The collaboration aims to support GWC's expansion by developing 200,000 square meters of Grade 'A' logistics facilities in key locations across Saudi Arabia, including Riyadh, Jeddah, and Dammam. This investment is expected to have a positive impact on GFH's financial statements and increase the Group's returns. The announcement was made by Mariam Jowhary, Head of Compliance and AML.
GFH Financial Group B.S.C. announced the launch of its innovative investor mobile application during the Future Investment Initiative (FII) in Riyadh, Saudi Arabia. The investment is expected to have a positive impact on the group's financial performance and increase its returns. The announcement was made by Mariam Jowhary, Head of Compliance and AML.
GFH Financial Group announced the successful pricing of a US$500 million five-year Sukuk, as part of its international Sukuk program. The final orderbook exceeded US$2 billion, indicating an oversubscription of over four times. This issuance was priced approximately 240 basis points tighter than GFH's previous 2020 issuance, relative to the US Treasury benchmark. Over 50% of the issuance was allocated to international investors, with the remainder going to regional and local investors. The transaction is expected to have a positive impact on the company's financials and increase returns. The announcement was made by Mariam Jowhary, Head of Compliance and AML.
GFH Financial Group B.S.C. and Ithmaar Holding B.S.C. are currently in negotiations for GFH to acquire Ithmaar's financing and investment portfolios, pending 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 March 6, April 7, May 6, June 6, and September 19, 2024. The announcement was made by Mariam Jowhary, Head of Compliance & AML.
On October 14, 2024, GFH Financial Group B.S.C. announced the results of their Ordinary General Meeting held on October 9, 2024. The meeting was attended by a quorum of 39.14%. Attached to the announcement are 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, the Head of Compliance & AML, and includes the company seal.
GFH Financial Group B.S.C. announced that the Capital Markets Authority in Kuwait has issued a license for GFH Capital Kuwait to operate as a Subscription Agent, effective from October 10, 2024. This new development is expected to expand GFH's geographic presence and client base, and positively impact its placement activities and returns. The announcement was made by Mariam Jowhary, Head of Compliance & AML.
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, several resolutions were approved: 1. The minutes of the previous meeting from March 24, 2024, were approved. 2. The Board's recommendation to establish a Sukuk Programme valued at up to USD 500 million through a Special Purpose Vehicle (SPV) was approved, contingent on obtaining necessary regulatory approvals. Shareholders also approved the issuance of Sukuk up to 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 were approved, including an offer for early redemption of the outstanding certificates. 4. The Board of Directors was authorized to undertake necessary actions for executing the Sukuk Programme and Offer, which includes obtaining regulatory approvals, concluding agreements, and performing essential actions as per the agreements related to the Sukuk Programme and the Offer.