The Gulf Navigation Holding PJSC has announced a capital increase activation following the resolutions of the General Assembly Meeting held on 11 September 2023. The capital increase was achieved through the private issuance of 220 million mandatory convertible Sukuk (MCSs) to new investors. These will be converted into 200 million shares at a conversion price of AED 1.10. This has increased the company's share capital to AED 837,695,625, representing a 31.36% increase from the previous capital of AED 637,695,625. The company has also informed its shareholders that all new shares will be subject to a 1-year lockup period until 10 October 2024.

The Gulf Navigation Holding PJSC has announced a capital increase activation following the approval of shareholders in a General Assembly Meeting held on 11 September 2023. The capital increase will be achieved by issuing 220 million mandatory convertible bonds (MCBs) to new investors, which will be converted into 200 million shares at a conversion price of AED 1.10. The company's share capital will increase from AED 637,695,625 to AED 837,695,625, representing a 31.36% increase. The activation date is set for 10 October 2023, after trading hours. The new shares will be subject to a 1-year lockup period until 10 October 2024. The current share price will remain unchanged.