Latest Threads on News from companies

Unikai Foods PJSC has invited its shareholders to attend the Annual General Assembly Meeting, which will be held both virtually and physically at the company’s premises in Al Quoz 1, Dubai, on Wednesday, April 23, 2025, at 12 p.m. The agenda includes reviewing and approving the Board of Directors' report on the company's activities and financial position for the year ending December 31, 2024, as well as the auditor's report for the same period. Shareholders will discuss and approve the financial statements, profit and loss statement, and a proposal for cash dividends amounting to AED 7,768,200, which is 20% of the paid-up capital, equivalent to 20 fils per share. The meeting will also cover the approval of the Board of Directors' remuneration totaling AED 2,450,000, and the discharge or potential dismissal and liability claims against the Board and auditors for the financial year 2024. Additionally, the appointment and fee determination of auditors for 2025 will be addressed. Special resolutions will include updates on the sale process of shareholder stakes, amendments to the Articles of Association, and the review and approval of related party transactions for 2024 and estimated transactions for 2025.

GFH Financial Group announced that it has purchased 300,000 treasury shares, increasing its total treasury shares from 197,246,941 to 197,546,941, which still represents 5.15% of the total issued shares as of April 22, 2025. The decision to purchase these shares was made during a board meeting on March 24, 2024, and received regulatory approval on February 16, 2025. The average purchase price was $0.2862 per share, and the shares purchased represent 0.080% of the issued capital. There are 12,427,518 shares remaining available for purchase. The announcement was made by Mariam Jowhary, Head of Compliance and AML.

du, a leading telecom and digital services provider in the UAE, announced plans to build a new hyperscale data center valued at approximately 2 billion AED. This initiative significantly increases du's data center capacity and enhances its position as a key data center provider in the region. The data center will be developed in phases, with Microsoft as the main tenant. CEO Fahad Al Hassawi highlighted the project as a major step in du's strategy to expand beyond traditional offerings and support the growing demand for AI, sovereign cloud, and increased capacity. This development underscores the importance of technological advancements in enhancing economic landscapes and community standards, reinforcing the UAE's status as a global leader in technology and sustainability. Currently, du operates five data centers in the UAE, providing secure and scalable digital infrastructure.

Orient Takaful PJSC, with a paid-up capital of 200 million dirhams, is registered under Federal Law No. (6) of 2007. The company is preparing for a board of directors' circular resolution on April 25, 2025, to review various operational activities. The communication is addressed to Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, and Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority in Abu Dhabi. The announcement is signed by Syed Muhammad Asim, CEO of Orient Takaful. The company is a subsidiary of Orient Insurance PJSC and is located in Dubai, UAE.

The text is a formal notification regarding a meeting of the Board of Directors for Dubai Refreshment P.J.S.C. The meeting is scheduled for Tuesday, 29 April 2025, at 10:00 AM, and will be held both at the company's premises in Dubai Investment Park 2 and via online video technology. The agenda includes reviewing and approving the interim financial report for the first quarter of 2025, as well as discussing internal matters and making necessary decisions. The letter is addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and is signed by Karem Mahmoud, Director of Legal at Dubai Refreshment P.J.S.C.

Union Properties PJSC announced the outcomes of its Annual General Meeting, where a special resolution was approved to reduce the company's total issued share capital by 33.4% to address accumulated losses of approximately AED 1.43 billion. This was achieved by utilizing the full statutory reserve to offset AED 437.95 million of these losses. The meeting highlighted the company's focus on sustainable growth and shareholder value, with Chairman Mohamed Fardan Ali AlFardan discussing the company's financial performance. Union Properties reported an operating profit of AED 161.8 million, a 59% increase, and a total comprehensive income of AED 395 million. Revenue from customer contracts rose to AED 528.7 million, reflecting the company's ongoing operational performance and strategic growth.

BHM Capital Financial Services, a private joint stock company regulated by the Securities and Commodities Authority (SCA) in the UAE, issued a notification regarding the resolutions from its General Assembly meeting held on April 21, 2025. The resolutions included a capital increase and a share buyback program. The capital increase is intended to enhance the company's financial capabilities and support its strategic goals, allowing for future expansion. The share buyback reflects management's confidence in the company's position and operations, aiming to add value for shareholders when the current share price does not reflect its intrinsic value. These strategic decisions aim to enhance financial flexibility, support expansion plans, strengthen investor confidence, and achieve sustainable value for shareholders. The notification was submitted through the EFSAH electronic system and addressed to Mr. Hamed Ahmad Ali, CEO of Dubai Financial Market.