Latest Threads on News from companies

**Summary:** On June 6, 2024, the Board of Directors of Emirates Driving Company PJSC met from 2:00 p.m. to 3:40 p.m. Four board members were present, achieving an 80% quorum. Key decisions included proceeding with the acquisition of a stake in a domestic company, with details to be disclosed after completing official procedures and negotiations. The board also discussed the company's workflow and project progress. The meeting's resolutions were signed and dated by CEO Mr. Khaled Al Shemeili.

The Dubai Financial Market (DFM) has announced margin parameters for various futures contracts effective June 10, 2024. The announcement lists the base margin percentages and currency amounts required per contract for different underlying symbols such as AIRARABIA, AlANSARI, ARMX, DEWA, and others. The specific margin percentages range from 5% to 13%, with corresponding base margin amounts in AED and USD. The methodology for margin calculation and types of eligible margin can be found in the Derivatives Clearing Guidelines and Procedures on the Dubai Clear website. This information is subject to change and should be cross-referenced with the official DFM Regulated Derivative Contract Trading Regulation for accuracy. For further details, visit the DFM announcements page.

Tabreed, a leading district cooling company, published its fourth annual ESG Report for 2023, highlighting significant progress in decarbonizing cooling. The report details a reduction in energy consumption by 2.52 billion kWh and a prevention of 1.5 million metric tons of CO2 emissions. In 2023, Tabreed integrated renewable energy into its operations, including the launch of the region's first geothermal-powered cooling plant in partnership with ADNOC. The company also purchased 116,000 MWh of solar-sourced Clean Energy Certificates and participated in the Dubai Financial Market's carbon credits trading pilot. Additionally, Tabreed engaged in various Corporate Social Responsibility initiatives, supporting startups and young entrepreneurs focused on climate solutions and partnering with Emirates Red Crescent during Ramadan.

The Ras Al Khaimah National Insurance Company PSC has announced a board meeting scheduled for Wednesday, 12th June 2024, at 11:00 AM UAE time. The meeting will be held at the company's head office in Ras Al Khaimah and will also be accessible via video conference. The agenda includes general business matters related to the company's activities that do not impact the share price, as well as any other business. The announcement was made by the company's CEO, Sanjeev Badyal.

Agthia Group PJSC has announced the completion of procedures related to the restructuring of the indirect stake of minority shareholders in Ismailia Agricultural and Industrial Investment Company – Furat (Atyab) for the benefit of AG Synergy Holdings 1 RSC LTD. This follows a disclosure made on 14 March 2024. The notification was addressed to the Abu Dhabi Securities Exchange and the Securities and Commodities Authority.

The Abu Dhabi National Hotels Company (PJSC) is a public joint stock company established in Abu Dhabi, UAE, in accordance with Law No. 3 of 1975 and its amendments. It is registered with the Department of Economic Development in Abu Dhabi under commercial registration number CN-1002138. The company operates under Federal Law No. 8 of 1984 on Commercial Companies, which was repealed by Federal Law No. 2 of 2015, requiring amendments to the company's Articles of Association. The General Assembly of the company approved these amendments on June 20, 2016, to comply with the new law. Further amendments were approved on February 24, 2020, to align with Federal Law No. 3/RM of 2020, adopting the Corporate Governance Guide for Public Joint Stock Companies.

Presight AI Holding PLC has completed a transaction involving the purchase of a 51% equity stake in Matrix JVCo Ltd, a joint venture between G42 Investments AI Holding Ltd and Abu Dhabi National Oil Company (ADNOC). The total consideration for the transaction was $350 million, paid in two tranches: $245 million upon completion and $105 million to be paid by December 30, 2024. The transaction was approved by the company's shareholders at a general meeting on May 21, 2024, and all necessary conditions and regulatory approvals have been satisfied.