Latest Threads on News from companies

On June 30, 2025, Amlak Finance PJSC held a General Assembly meeting chaired by Mr. Jamal Hamed Almarri at Kempinski the Boulevard, with a quorum of 61.63% of the total attendance. The meeting resolved two key decisions: First, to approve the transfer of AED 307,392,000 from the legal reserve and AED 99,265,000 from the special reserve as of December 31, 2024, to partially offset accumulated losses, pending approval from relevant authorities. Second, to approve the strategic decision to exit the company's real estate finance portfolio through various means, including the sale of financing contracts to other financial institutions and mutual agreements with customers. The Board of Directors or authorized persons are empowered to approve these transactions and offer necessary discounts and waivers. The meeting concluded with the authorized signatory, Lama Takieddin, Head of Governance and Company Secretary, confirming the results.

Al Salam Bank has formed a strategic partnership with Live Life and Al Rashid Group to offer exclusive discounts of up to 20% for its cardholders in Bahrain. This collaboration allows holders of Al Salam Bank credit, prepaid, and youth cards to receive discounts at various Al Rashid Group outlets, including Home Centre, Home Box, Max, Mothercare, Centrepoint, Lifestyle, Shoemart, and Splash. The initiative reflects Al Salam Bank's commitment to enhancing client experiences by providing added value beyond traditional banking services, aligning with its strategy to form partnerships that complement clients' lifestyles. Key figures from Al Salam Bank, Live Life, and Al Rashid Group expressed their enthusiasm for the partnership, highlighting its potential to enhance lifestyle experiences and offer meaningful benefits. Discounts are subject to terms and conditions, with specific offers available at different outlets. For more details on the offers and participating stores, clients are encouraged to visit Al Salam Bank's website or Instagram account.

The letter is a formal notification from Alan Williamson, CEO of Taaleem Holding PJSC, addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market. It informs him of a scheduled Board of Directors meeting for Taaleem Holdings PJSC on July 3, 2025, at 3:00 pm. The meeting will be held both at the company's premises and via remote attendance. The agenda includes reviewing and approving the Interim Condensed Consolidated Financial Statements for the nine-month period ending May 31, 2025, discussing routine business matters, and following up on company activities. The letter also mentions that other matters may be discussed with the Chairman's permission. A copy of the letter is sent to the Securities and Commodities Authority.

Sean Magee, Secretary of the Board of Directors, informs H.E. Waleed Saeed Abdul Salam Al Awadhi, CEO of the Securities & Commodities Authority in Abu Dhabi, and H.E. Hamid Ali, CEO of the Dubai Financial Market, about Tabreed's acquisition of PAL Cooling Holding LLC. The acquisition involves a newly formed joint venture between Tabreed and DIF Infra 7 Participations 8 B.V., each owning 50%. The enterprise value of the transaction is approximately AED 4.1 billion, with an equity value of AED 3.8 billion, pending regulatory approvals. PAL Cooling Holding LLC fully owns eight subsidiary companies operating five district cooling plants under long-term agreements, with additional plants under development in Abu Dhabi. Further details are provided in attached forms, and contact is encouraged for more information.

Tabreed and CVC DIF have partnered to acquire PAL Cooling Holding from Multiply Group for approximately AED 3.8 billion. The acquisition includes eight long-term concessions serviced by five district cooling plants in Abu Dhabi, with significant growth potential to reach an operational connected load of around 600,000 refrigeration tons. PAL Cooling, established in 2006, is a key player in the UAE district cooling market, with partnerships with major developers like Aldar Properties. The acquisition aligns with Tabreed's strategic goals to support Abu Dhabi's real estate projects and meet the increasing demand for sustainable cooling. CVC DIF highlighted PAL Cooling's long-term contracts in a rapidly growing urban environment. The deal is pending regulatory approvals.