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Threads on regulatory news from companies
Threads on regulatory news from companies
The Abu Dhabi Commercial Bank (ADCB) Board of Directors will hold a meeting on Thursday, July 18, 2024, at 10:00 a.m. The agenda includes discussing and potentially approving the bank's financial results as of June 30, 2024, as well as other general matters. Consequently, it is requested that trading of the bank's shares be suspended on that day. The notice is signed by Rami Raslan, Group Company Secretary of ADCB, and a copy has been sent to HE Dr. Maryam Butti Al Suwaidi. The date of the notice is July 15, 2024, with reference number CMD/008/2024.
Aldar Properties and DP World have signed a strategic agreement to develop a 1.55 million square foot Grade A logistics park in National Industries Park (NIP) in Dubai. This project is the first of its kind within NIP and aims to cater to third-party logistics (3PL), eCommerce, and retail tenants. The park will feature three modular buildings that can be adapted for single or multi-tenant use. Aldar will oversee the entire development process, from design to management. This initiative is part of Aldar's broader AED 1 billion investment to expand its logistics real estate business in Abu Dhabi and Dubai. The location is strategically positioned near Jebel Ali Port and Al Maktoum International Airport, offering excellent connectivity. The project aims to meet the high demand for warehousing facilities and strengthen DP World's position as a key distribution hub.
ADNOC Gas has awarded $550 million in engineering, procurement, and construction contracts to NMDC Energy P.J.S.C and Galfar Engineering & Contracting W.L.L Emirates for the expansion of the UAE gas pipeline network. This project, part of the ESTIDAMA initiative, aims to increase gas delivery to customers in the Northern Emirates by extending the pipeline network from 3,200 kilometers to over 3,500 kilometers. Additionally, ownership of the $2.4 billion ESTIDAMA project will be transferred from ADNOC Gas to ADNOC, optimizing capital efficiency. Approximately 70% of the contract value is expected to benefit the UAE economy through ADNOC’s In-Country Value program.
The National Investor PrJSC held its General Assembly Meeting electronically on July 12, 2024, from 11:00 am to 11:40 am. The Board of Directors included Chairman Mr. Saeed Mohamed Hasan Almasoud, Vice Chairman Mr. Tariq Khalil Dawood Badran Al Karaeen, and members Mr. Mohammed Abdulla Juma Alqubaisi, Mr. Mohammed Abdulla Almazrouei, and Mr. Madhav Vithal Nayak. The meeting agenda included three main items: 1. Approval of a transaction to sell a real estate asset on Al Reem Island, valued at 10.1% of the company's share capital, to a related party. 2. Approval of a proposal to decrease the company's share capital by canceling 50 million shares, returning the value to shareholders, and amending the company's Memorandum of Association. 3. Authorization for the Chairman or CEO to represent the company in approving shareholders' decisions related to the above items and to take necessary measures for their implementation.
DFM Regulated Short Sell – Weekly Summary Summary Period: 08 July 2024 to 12 July 2024 Date of Issue: 12 July 2024 There were no Regulated Short Sell (RSS) trades for the period from 08 July 2024 to 12 July 2024. For more information on RSS, refer to the DFM Market Rules Module Three Membership, Trading, And Derivatives Rules & Operational Model and Procedures for Implementation of Regulated Short Selling at http://www.dfm.ae/the-exchange/regulation/market-rules. This announcement is available on the DFM website at https://www.dfm.ae/the-exchange/news-disclosures/market-announcements. Disclaimer: The information in this document is subject to change and is provided on an "as is" and "as available" basis. DFM will not be liable for any loss resulting from the use of the data and content in this document.
Date: 12 July 2024 Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, Dubai - United Arab Emirates H.E. Dr. Maryam Buti Al Suwaidi, Chief Executive Officer - Securities and Commodities Authority, Abu Dhabi - United Arab Emirates Subject: Nominees list for the membership of the Board of Directors of Drake and Scull International PJSC (the "Company") The nomination period for the Board of Directors’ membership of Drake and Scull International PJSC closed on Thursday, 11 July 2024. The following individuals have met the nomination requirements for the Board of Directors: 1. H.H. Shaikh Theyab Bin Tahnoon Bin Mohammad Al-Nahyan 2. Dr. Abdul Rahman Mahmoud Al Afifi 3. Mr. Shafiq Abdelhamid 4. Mr. Abdulla Atatreh 5. Mr. Ahmad Kilani 6. Mr. Mustafa Kheriba 7. Mr. Abdulrahman Alali 8. Mrs. Mia Zecevic 9. Mr. Mohamed Aldhaheri 10. Mr. Mohamed Al-Ali 11. Mrs. Khulood Qayed Sincerely, Dana Abualghanam Board Secretary