Latest Threads on News from companies

Ithmaar Holding B.S.C. announced that it has mutually agreed with GFH Financial Group B.S.C. to terminate discussions regarding the acquisition of Ithmaar's financing and investment portfolios. This decision follows preliminary due diligence and discussions, as the requirements for the execution of the acquisition were not met. There is no expected financial impact from this termination.

GFH Financial Group B.S.C. and Ithmaar Holding B.S.C. have mutually agreed to terminate discussions regarding the acquisition of Ithmaar’s financing and investment portfolios. This decision follows preliminary due diligence and discussions, as the requirements for completing the acquisition were not met. There is no expected financial impact from this termination. Previous related disclosures were made on several dates in 2024, detailing the progress of these discussions. The announcement was made by Mariam Jowhary, Head of Compliance and AML at GFH.

Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, announced the activation of its capital increase on the Dubai Financial Market. The capital increase was activated on April 11, 2025, after trading hours, with trading on the new shares starting on April 14, 2025. The previous capital was AED 2,535,720,000, which increased by 44.3% to AED 3,659,022,945. There is a 14-month trading restriction on the new shares, ending on May 27, 2026. The announcement was addressed to Hamid Ahmed Ali, CEO of the Dubai Financial Market, and signed by Islam Mahrous, the Chief Compliance Officer.

The Board of Directors of National General Insurance Company (PJSC) invites shareholders to the Annual General Assembly Meeting on April 14, 2025, at 4:00 PM, both in person at the company's head office in Deira, Dubai, and electronically. The agenda includes authorizing the chairman to appoint a meeting secretary and vote collector, reviewing and approving reports on the company's activities, financial position, auditor's report, balance sheet, and profit and loss account for the fiscal year ending December 31, 2024. It also involves discussing dividend distribution of 45% (equivalent to AED 74,227,285), board remuneration, discharging or holding the Board and auditors accountable, appointing auditors for 2024, approving the Corporate Social Responsibility Policy, disclosing related party transactions, and electing Board members. Special decisions include amending the Articles of Association to comply with new regulations and allocating up to 0.5% of the company's net annual profits for voluntary contributions in 2025 per the corporate social responsibility policy.

Taaleem Holdings PJSC, a prominent K-12 education provider in the UAE with 38 schools in its portfolio and listed on the Dubai Financial Market, has announced plans to open a second Harrow International School in Dubai. This initiative is in collaboration with Harrow International Schools Limited and has received initial approval from the Knowledge and Human Development Authority. A land lease agreement has been signed for a 50,000 sqm plot on Hessa Street, with a capacity for 1,800 students. The school is expected to begin operations in the academic year 2026 and will offer a British-style curriculum with state-of-the-art facilities. The campus, designed by KODA architects, will include specialized classrooms, sports and arts facilities, and leadership programs. This addition is anticipated to enhance Taaleem's educational portfolio and provide sustained value through diversification.

GFH Financial Group B.S.C. announced that it has purchased 100,000 of its own shares (treasury shares), increasing the total number of treasury shares from 187,355,864 to 187,455,864, which still represents 4.89% of the total issued shares as of April 13, 2025. The decision for this purchase was made by the company's board of directors on March 24, 2024, and was approved by the relevant authority on February 16, 2025. The purchase was made at an average price of 0.2880 USD per share, accounting for 0.003% of the issued capital. There are 195,803,519 shares remaining available for purchase. The announcement was made by Mariam Jowhary, Head of Compliance and Anti-Money Laundering.