Gulf Navigation Holding PJSC

The Board of Directors of Gulf Navigation Holding PJSC held a meeting on January 23, 2025. During the meeting, they discussed developments related to the acquisition of companies and assets owned by Brooge Energy Limited. The Board decided to submit recommendations to the Securities and Commodities Authority regarding the valuation and importance of completing the acquisition for the company and its shareholders. Additionally, the Board approved calling a general assembly to discuss and approve the recent developments of the acquisition, contingent upon obtaining approval from the Securities and Commodities Authority. The communication was signed by Nader Muqbel, Investor Relations Director at Gulf Navigation Holding PJSC.

The Board of Directors of Gulf Navigation Holding PJSC will hold a meeting on Thursday, January 23, 2025, at 10:00 am. The agenda includes discussing recent developments related to the acquisition of companies and assets owned by Brooge Energy Limited, considering calling a general assembly meeting to approve these developments subject to the approval of the Securities and Commodities Authority, and addressing regular matters and any other business of the company. The notification is signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.

On 16 January 2025, Gulf Navigation Holding PJSC held its General Assembly Meeting both in person and electronically at Novotel Hotel in Dubai. During the meeting, it was decided to postpone the discussion of agenda items related to the acquisition of companies and assets owned by Brooge Energy Limited. This decision was made to allow for further discussions with the Securities and Commodities Authority and the independent valuer regarding the valuation report. The aim is to determine the best way to structure the transaction to benefit the company and its shareholders, and to present the results of these discussions.

Gulf Navigation Holding PJSC has informed its shareholders about the approval from the Securities and Commodities Authority to amend certain agenda items for their upcoming General Assembly meeting. The meeting is scheduled for January 2, 2025, at 3:00 PM, and will be held both physically at the Novotel Hotel in Dubai and electronically. The revised agenda includes: 1. Reviewing the details of an acquisition transaction involving a cash and in-kind capital increase through converting mandatory convertible bonds into shares for acquiring companies and assets owned by Brooge Energy Limited. 2. Considering and approving a valuation report by an independent valuer appointed by the Securities and Commodities Authority, which includes calculating the conversion ratio of the convertible bonds into shares. 3. Reviewing and approving the Board of Directors' report and a valuation report justifying the acquisition of the in-kind stake (ownership of shares of the acquired companies) and the payment of the transaction price through issuing new shares to Brooge Energy Limited, valued at approximately AED 448,551,845.

On 19 December 2024, a letter was addressed to H.E. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority in Abu Dhabi, United Arab Emirates. The letter announced the resignation of Mr. Adel Al Hosani from his position as a Board Member of Gulf Navigation Holding PJSC, effective 18 December 2024. The Board plans to hold a meeting within 30 days to appoint a new Board member to fill the vacant position. The letter was signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.

The text provides instructions for completing and submitting a proxy form for shareholders of Gulf Navigation Holding Company (PJSC). Shareholders are required to fill out the form, appoint a representative to vote on their behalf at the Annual General Assembly meeting scheduled for January 2, 2025, at 3 PM, and send it along with the necessary documents to the specified email address: CapitalMarketsTeam@adcb.com. The form requires details such as the shareholder's number, contact information, date, and signature, as well as the name and contact details of the financial broker or entity that verified the proxy. The meeting will be held both in-person and virtually.

The text is a formal communication regarding a resolution to be passed by the Board of Directors of Gulf Navigation Holding PJSC. The resolution, which will address regular matters and any other business of the company, is scheduled to be issued by circulation no later than 10:00 a.m. on Monday, December 9, 2024. The letter is addressed to H.E. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority in Abu Dhabi. It is signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.