Salik Company PJSC

Salik Company PJSC announced the list of candidates for its board membership for the 2025-2028 term. The nomination period was from March 7 to March 17, 2025, and the applications were reviewed by the Nomination and Remuneration Committee in compliance with relevant laws and the company's Articles of Association. The company received a significant number of applications, demonstrating strong interest from shareholders and the public. The list includes 17 candidates, with a mix of non-executive, independent, and executive nominees, featuring both male and female candidates.

Salik Company PJSC has announced the opening of nominations for its Board of Directors. The nomination period runs from March 7 to March 17, 2025. Eligible individuals or shareholders can apply for board membership electronically. The application must include a candidate introduction, membership type, CV, identification, and various declarations and disclosures. Seven board members will be elected, and candidates must meet specific criteria, including professional experience and a clean legal record. After the nomination period, applications will be reviewed by the Nomination and Remuneration Committee and submitted to the Securities and Commodities Authority. The final list of approved candidates will be published on the Smart AGM portal and the Dubai Financial Market website before the General Assembly meeting.

The text is a proxy form addressed to Salik Company PJSC in Dubai, UAE, allowing a shareholder to appoint a representative to attend and vote on their behalf at an upcoming general assembly meeting on April 9, 2025. It includes fields for the shareholder's name, mobile number, and the number of shares owned. The form outlines requirements for the proxy, including the necessity for the shareholder's signature to be verified by specific authorized entities, such as a notary public or a licensed bank. It also provides contact information for further inquiries.

Salik Company PJSC invites its shareholders to attend the Annual General Assembly Meeting on April 9, 2025, at 12:00 PM, which will be held both virtually and physically at the Palazzo Versace in Dubai. The meeting will address several agenda items, including the approval of the Board of Directors' report, the auditor's report, the company's financial statements, and a proposal for cash dividends distribution totaling AED 1,164,560,713 for 2024. Other matters include discharging the Board and auditors from responsibilities, appointing external auditors for 2025, and electing Board members for the 2025-2028 term. Shareholders can register and vote electronically through www.smartagm.ae from April 2 to April 9, 2025. Proxies are allowed under certain conditions, and the meeting requires a quorum of at least 50% of the company's capital. If the quorum is not met, a second meeting will occur on April 16, 2025. Shareholders can access financial documents and governance reports on the company's and DFM's websites.

Salik Company PJSC, Dubai's toll gate operator, reported financial results for FY 2024, showing an 8.7% increase in total revenue to AED 2.3 billion and a 13.6% rise in EBITDA to AED 1.6 billion. Revenue-generating trips increased by 8% to 498.1 million, supported by the launch of two new toll gates. The company declared cash dividends of AED 619.8 million for the second half of 2024. His Excellency Mattar Al Tayer, Chairman, highlighted the company's strong financial performance and strategic milestones, including partnerships aimed at expanding revenue streams and enhancing mobility solutions. CEO Ibrahim Sultan Al Haddad noted robust Q4 performance and revised guidance for FY25, projecting revenue growth of 28-29% and an EBITDA margin of 68-69%. The company's initiatives include variable pricing, new gates, and collaborations for innovative parking and insurance solutions. Net profit before tax rose by 16.6% to AED 1.3 billion, with total trips up by 7.6% to 638.2 million and active registered accounts increasing by 7.4% to 2.6 million. Despite a new 9% corporate tax, profit for the period grew by 6.1% to AED 1.2 billion. The total dividend for 2024 was AED 1,164.5 million, equivalent to 15.5275 fils per share.