Latest Threads on News from companies

On 4th March 2024, the Board of Directors of Abu Dhabi Ship Building PJSC issued a resolution to restructure the Executive Committee. The new structure includes three members and two advisors. The members are Rodrigo Torres (Chairman), Omar Al Zaabi, and Saeed Al Suwaidi. The advisors are Miles Chambers and Amit Surana.

Sukoon Insurance PJSC, based in Dubai, United Arab Emirates, has proposed an offer to acquire up to 6.95% of the issued and paid ordinary shares of Arabian Scandinavian Insurance Company (PLC) – Takaful – ASCANA Insurance. The proposed cash consideration for this acquisition is AED 1.65 per share. The offer document, dated 4 March 2024, advises shareholders to consult a financial advisor licensed by the Securities and Commodities Authority if they are uncertain about any aspect of the offer. The document also includes a disclaimer stating that the Securities and Commodities Authority and the Dubai Financial Market are not responsible for the content of the offer document.

Sukoon Insurance PJSC, a Dubai-based company, has announced its intention to acquire up to 6.95% of the issued and paid-up ordinary shares of Arabian Scandinavian Insurance Company (PLC) – Takaful – ASCANA Insurance. Sukoon is already the key shareholder of ASCANA, holding 93.0432% of its share capital. The company's main shareholder is Mashreq Bank PSC, which owns 65.7637% of Sukoon's share capital. The company is regulated by the Central Bank of the UAE and has a paid-up capital of AED 461,872,125. The directors of Sukoon have taken full responsibility for the accuracy of the information in the notification.

SHUAA Capital p.s.c., a financial investment company based in Dubai, United Arab Emirates, is licensed and regulated by the U.A.E. Securities and Commodities Authority. The company's board of directors is set to meet at 3:00 pm tomorrow to discuss several agenda items. These include reviewing the developments of a previously announced capital structure optimization plan, discussing the maturity date of bonds issued by a SHUAA-affiliated special purpose vehicle and the possibility of extending the bonds’ maturity date, and addressing other customary business-related matters.

The letter is dated 04 March 2024, addressed to Dr. Maryam Buti Al Suwaidi, the Chief Executive Officer of the Securities and Commodities Authority in Abu Dhabi, UAE, and Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market in Dubai, UAE. The subject of the letter is the disclosure by the Dubai Financial Market (PJSC) regarding the date of issuing a Board of Directors' resolution by circulation. The letter announces that the company's Board of Directors will pass a resolution about ordinary and internal matters no later than March 07, 2024. The letter is signed by Ali Al Hashimi, the Chief Financial Officer of the Dubai Financial Market (PJSC).