Latest Threads on News from companies

The Board of Directors of Dubai Insurance Company (PSC) has invited shareholders to attend the Annual General Assembly meeting on 20/03/2024 at 13:00 PM. The meeting can be attended in-person at the company's headquarters or remotely via video technology. The agenda includes reviewing and approving the company's financial reports and the auditor's report for the fiscal year ending 31/12/2023, approving the balance sheet and profit and loss account, considering proposals for cash dividend distribution and remuneration for board members, discharging or removing board members and auditors for the fiscal year ending 31/12/2023, appointing auditors for 2024, and electing board members. Special attention will be given to proposed amendments to the company's Articles of Association to comply with current laws and regulations.

The Board of Directors of Al Ansari Financial Services has announced its annual general meeting to be held on March 19, 2024, at the Sheraton Mall of the Emirates Hotel in Dubai. The meeting's agenda includes reviewing and approving the Board of Directors' report, the auditor's report, and the company's financial statements for the fiscal year ending December 31, 2023. They will also consider a recommendation to distribute a cash dividend of AED 300,000,000, representing 400% of the company's paid-up share capital. Other items on the agenda include approving the Board of Directors' remuneration and discussing whether to discharge the board members and the company's external auditors, Deloitte & Touche, from any liability for the fiscal year ended December 31, 2023.

Dubai Insurance Co. has announced the end of the nomination period for membership applications to the Board of Directors for the 2024-2027 term. The nominees, subject to approval from the Central Bank of the UAE, include Mr. Buti Obaid Almulla, Mr. Marwan Abdulla Al Rostamani, Mr. Khalid Abdulwahid Al Rustamani, Mr. Abubakr Abdulla Al Futtaim, and Mr. Abdulla Mohammed Alhuraiz. All nominees are non-executive, non-independent.

The International District Energy Association (IDEA) has honored Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, for its contributions to the advancement of district cooling technologies in the Middle East and globally. The recognition was awarded during the 'IDEA Campus Energy 2024' conference in San Francisco. The event celebrated the 20-year partnership between IDEA and Empower, acknowledging their efforts in promoting innovation, sustainability, and efficiency in the district cooling industry. Empower's CEO, Ahmad Bin Shafar, was also recognized for his efforts to strengthen the company's position in the global district cooling industry.

Union Properties PJSC has successfully sold over AED 500 million worth of land, marking a significant milestone for the company. The company has received additional offers on assets worth more than AED 1.2 billion. This achievement is part of Union Properties' strategy to maximize shareholder value and capitalize on opportunities in the real estate market. The company plans further strategic divestments and will retain approximately 10 million sqft of GFA from its current portfolio for self-development, in line with its five-year strategy set in 2023.

GFH Financial Group B.S.C. has invited shareholders to its Annual General Meeting on 17th March, 2024. The agenda includes approving the minutes of the previous meeting, discussing and approving the Board of Directors' report, the Sharia Supervisory Board's report, and the external auditor’s report for 2023. They will also discuss and approve the consolidated financial statements for 2023, and the allocation of the net profit of 2023. The Board recommends transferring $10,522,700 to the statutory reserve, allocating $2,000,000 to charity activities, distributing cash dividends, and retaining the remaining amount for the following year. The agenda also includes approving $1.9 million as remuneration for the Board members, discussing and approving the corporate governance report, disclosing and approving transactions with related parties, releasing the Board members from liability, appointing/reappointing external auditors, approving a share buyback, electing the Board of Directors for the next three years, and discussing any recent issues. If the required legal quorum is not met, additional meetings will be held on 24th and 31st March, 2024.