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Union Properties, a Dubai-based company, has reported robust asset sales and cash flow generation in Q1 2024, with AED 816 million from plot sales. The company used these proceeds to repay AED 290 million of its debt, with plans to repay an additional AED 250 million in Q2 2024. This is part of Union Properties' debt restructuring plan, aiming to repay AED 966 million to lenders during FY2024, which has improved its cash flow and restored its relationship with financial institutions. The restructuring has also unlocked potential additional financing for future real estate developments, reduced interest rates, freed mortgaged lands for development, and generated seed funding for new projects.

Resolution No. 354 of 2024 temporarily suspends trading of shares for Emirates Insurance Co. on the ADX platform. This decision is in accordance with Article No. 16 of the Regulations Concerning the Listing of Securities on ADX. The suspension is due to the company's AGM being held at 10:00 on 22-Apr-2024, which coincides with the trading session at ADX. Therefore, trading of EIC shares will be suspended from 09:00 on 22-Apr-2024 until the AGM results are received by ADX. All department heads at ADX are required to execute this resolution in their respective fields. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was approved by an authorized person and issued on 01/04/2024.

SHUAA Capital has delayed the release of its 2023 financial statements due to ongoing debt restructuring negotiations. The company is in the process of amending the terms of $150 million in outstanding bonds, with the outcome expected to be announced by 5 April 2024. SHUAA is seeking support from noteholders for the restructuring, which would involve a third-party capital injection. The company plans to hold a general assembly of shareholders by the end of April to discuss the next steps.

Resolution No. 353 of 2024 pertains to the temporary suspension of trading on the shares of Abu Dhabi National Co. for Building Materials. The suspension will take place on 25-Apr-2024 from 09:00, as the company's AGM is scheduled for 14:00 on the same day, which coincides with the trading session at ADX. The suspension will last until ADX receives the AGM results. The resolution instructs all heads of departments in ADX to execute this resolution in their respective fields. It also mandates that the resolution be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 01/04/2024.