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Since January 2023, there has been press speculation about Emirates NBD Bank PJSC being involved in potential acquisitions in the region, including in Egypt. The bank regularly explores growth opportunities through both internal resources and external operations like mergers and acquisitions. Emirates NBD confirms that, to date, there have been no material developments necessitating a specific announcement regarding these speculations. Should any significant developments occur, the bank will disclose them in accordance with its regulatory obligations. For further inquiries, contact Patrick Clerkin, Group Head of Investor Relations, or Ibrahim Sowaidan, Group Corporate Affairs.
The Board of Directors of Orient Insurance (PJSC) is inviting shareholders to attend the Annual General Assembly Meeting on April 8, 2025, at 11:00 AM. The meeting will be held both in person at the Orient building in Dubai Festival City and online via the Teams platform. The agenda includes reviewing and approving reports from the Board of Directors and auditors for the financial year ending December 31, 2024, discussing and approving the company's financial statements, and considering a proposal for an 80% cash dividend distribution totaling 400 million dirhams. Other items include discharging board members and auditors from liability, approving internal policies, and setting remuneration for board and senior executive management. The meeting will also address transactions with related parties and appoint auditors for the 2025 financial year.
Dubai Investments PJSC reported a net profit before tax of AED 1.3 billion for the fiscal year ending December 31, 2024, marking a 21% increase from the previous year. The company's total income reached AED 4.66 billion, driven by strong real estate sales and increased rental income. Total assets grew to AED 22.10 billion by the end of 2024. The board proposed an 18% cash dividend for 2024, reflecting a commitment to shareholder value. The company plans to focus on growth by evaluating investment opportunities, strategic divestments, and potential IPOs to enhance market presence and shareholder value.
A meeting for Amlak Finance PJSC is scheduled for Wednesday, 19 March 2025, at 3:00 PM. The agenda includes calling for the Annual General Meeting and discussions on the company's normal business activities and updates. The authorized signatory is Lama Takieddin, who holds the position of Head of Corporate Governance & Company Secretary.
Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, issued a clarification regarding a disclosure made by Eshraq Investments PSC on March 13, 2025. The disclosure concerned decisions by the board of Shuaa Capital made on March 12, 2025. Shuaa Capital highlighted that on February 10, 2025, it received an irrevocable binding commitment from Eshraq Investments to subscribe to convertible bonds worth 50 million AED. This commitment was formalized in a legally binding letter, and Shuaa Capital disclosed this commitment to the market on the same day. Based on this binding and irrevocable commitment, along with similar commitments from two other investors, Shuaa Capital initiated the necessary regulatory procedures to issue the convertible bonds.
On 13th March 2025, GFH Financial Group announced that the Ordinary and Extraordinary General Meetings scheduled for that day did not achieve the required quorum, with only 39.03% attendance. As a result, the meetings have been rescheduled for 20th March 2025 at 9:30 p.m. at the same location. The company also provided updated dividend distribution dates, contingent on the quorum being met on the new meeting date. The key dates include the General Meeting on 20th March, the Cum-Dividend Date on 24th March, the Ex-Dividend Date on 25th March, and the Payment Date on 9th April 2025. The record dates vary for different stock exchanges. Mariam Jowhary, Head of Compliance & AML, signed the announcement.