Latest Threads on News from companies
Threads on regulatory news from companies
Threads on regulatory news from companies
On June 6, 2024, the Board of Directors of Emirates Driving Company PJSC held a meeting from 2:00 p.m. to 3:40 p.m. with four board members present, achieving an 80% quorum. The board agreed to proceed with the acquisition of a stake in a domestic company, with details to be disclosed after completing official procedures and negotiations. Additionally, the board discussed the company's workflow and project progress. The meeting was authorized and signed by CEO Khaled Al Shemeili on June 7, 2024.
Dana Gas PJSC has scheduled a board meeting for Wednesday, 12 June 2024, starting at 11:00 AM. The agenda includes discussions on the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq, ratification of Q1 2024 financial statements, and other routine matters. The disclosure form is signed by Omran Al Zamani, the Board Secretary, on 7 June 2024.
On 7 June 2024, Al Yah Satellite Communications Company PJSC disclosed the results of a written resolution circulated on 6 June 2024 at 3:00 PM. The resolution was approved by 89% of the directors. The board discussed general matters related to the company's activities and passed suitable resolutions. The document was authorized by Clint Irwin Fransquinho de Barros, the Board Secretary, and included the company’s seal.
On June 6, 2024, H.E. Saeed Mubarak AlHajeri, Chairman of the Board, and H.E. Mohammed bin Abdulaziz AlShehhi, Vice Chairman of the Board, submitted their resignations from the company's Board of Directors due to personal and professional commitments. The Board has accepted their resignations, with Mr. AlHajeri continuing his duties until new candidates are elected and regulatory approvals from the Central Bank of the United Arab Emirates and shareholders are obtained. The Board expressed appreciation for their service and instructed management to complete the necessary legal requirements. The announcement was made by Khaled Barakat, General Counsel.
On June 6, 2024, the Board of Directors of Islamic Arab Insurance Co. (SALAMA) approved several resolutions. The Chairman, H.E. Saeed Mubarak Al Hajeri, will resign effective from the date of the upcoming General Assembly meeting, where a new member will be elected to fill his position. He will continue his duties until then. Additionally, H.E. Mohammed bin Abdulaziz Al Shehhi, the Vice Chairman, resigned effective immediately. The Board has scheduled a General Assembly meeting for July 15, 2024, to elect two alternate members and approve the appointment of Mr. Mohammed Al Hashimi, who was appointed on May 24, 2024. The necessary regulatory approvals are being sought for this meeting. The resolution was approved by 72% of the Board members.
The board meeting of Taaleem Holdings PJSC was held on Thursday, 6 June 2024, from 3:00 PM to 4:30 PM at Century Plaza, Dubai. Eight board members were present, achieving an 89% quorum. The meeting focused on discussing routine business issues and following up on the company's activities. The meeting was authorized by Khalid Al Tayer, the Chairman of the Board of Directors.
GFH Financial Group B.S.C. and Ithmaar Holding B.S.C. have announced that discussions are ongoing for GFH to acquire Ithmaar's financing and investment portfolios. Ithmaar's shareholders approved the proposed transaction during an Extraordinary General Meeting on May 29, 2024, and authorized the Board of Directors to negotiate and finalize the deal's structure, terms, and documents. GFH is currently conducting due diligence and will provide periodic updates to shareholders on the progress.