Latest Threads on News from companies

On 27th March 2024, GFH Financial Group B.S.C announced that it has purchased 45,582,673 of its own shares (treasury shares). This acquisition increased the company's total holding of treasury shares from 268,565,465 (representing 7.01% of the total issued shares) to 314,148,138 (representing 8.20% of the total issued shares). The decision to purchase these shares was made by the company's board of directors in September 2021 and was approved by the authority in March 2024. The average purchase price was USD 3110 per share, which represents 1.189% of the issued capital.

On March 27, 2024, a letter was sent to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market, by Rayan Omer, Board Secretary of Takaful Emarat Insurance PSC. The letter informed that the Board of Directors meeting, which was scheduled to take place on March 29, 2024, at 11 am, has been postponed. The new date for the meeting will be disclosed to the shareholders officially at a later date.

The Annual General Meeting (AGM) of Emirates Central Cooling Systems Corporation (Empower) has approved a proposal to distribute AED 425 million in cash dividends to shareholders for the second half of 2023. The AGM, chaired by Saeed Mohammed Al Tayer, the Chairman of Empower, was attended by 90.4% of the company's paid-up share capital. The company's financial results for the year ending December 31, 2023, showed a record revenue of AED 3.035 billion and a net profit of AED 960 million. The dividend distribution aligns with the company's policy and it expects to pay a minimum dividend amount of AED 850 million per annum in the first two fiscal years.