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On May 29, 2025, Amlak Finance P.J.S.C held a board meeting attended by all seven members, achieving full quorum. The board decided to proceed with the sale of Ras Al Khor lands, following the General Assembly's approval on March 24, 2025. Details of the transaction are included in the disposal disclosure form. Additionally, the board called for a General Meeting on June 30, 2025, pending approval from the Securities and Commodities Authority, to discuss transferring the balance of Legal and Special Reserves as of December 31, 2024, to partially offset accumulated losses.
The board meeting of Taaleem Holdings PJSC was held on Thursday, May 29, 2025, from 3:00 PM to 5:00 PM. All nine board members were present, achieving a 100% quorum. During the meeting, routine business issues were discussed, and the company's activities were reviewed. The authorized signatory for the meeting was CEO Alan Williamson.
Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority, has announced its intention to take legal action against former management for actions that contributed to company losses. The company has filed a lawsuit seeking approximately 260 million AED in damages from former executive directors. Shuaa Capital aims to protect its rights and shareholder interests and will keep the market and shareholders informed of significant developments in this matter.
Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, announced its participation as a Diamond Sponsor at the 116th International District Energy Association (IDEA) Annual Conference and Trade Show in Minneapolis, Minnesota, USA. The event, themed "Aggregate, Integrate, Innovate," will take place from June 2, 2025, and will last four days, gathering delegations from both public and private sectors and industry experts globally. Empower's CEO, H.E. Ahmad Bin Shafar, will lead the company's delegation and is a keynote speaker in the opening session titled "Global Industry Leaders." He will discuss Empower's achievements in district cooling, energy efficiency, and sustainability, and present the company's practices as a global benchmark. Additionally, Empower will present a technical paper on using machine learning for district cooling plant optimization, focusing on improving efficiency and sustainability. The CEO highlighted the significance of Empower's involvement in the IDEA 2025 event, emphasizing the opportunity to enhance the company's global positioning and share expertise. He noted the growing importance of district cooling as an efficient and sustainable energy solution amid environmental challenges like climate change, underscoring its role in reducing electricity consumption and carbon emissions.
Al Salam Bank, Bahrain's largest Islamic bank, sold its 15.6% stake in Seef Properties to GFH as part of a broader strategy to focus on core banking operations and strategic holdings in banking, takaful, and asset management. ASB Capital, the bank's asset management arm, facilitated the sale. This move aligns with Al Salam Bank's goal to exit non-strategic holdings and reallocate resources to areas offering long-term value. Despite global market challenges, ASB Capital demonstrated strong transaction advisory capabilities, positioning itself to leverage increasing regional deal activity.