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GFH Financial Group B.S.C. announced the purchase of 2,922,680 of its own shares, increasing its total treasury shares from 340,394,623, which represented 8.88% of the total issued shares, to 343,317,303, representing 8.96% as of March 19, 2025. The decision to purchase was made during a board meeting on March 24, 2024, and received regulatory approval on February 16, 2025. The average purchase price was USD 0.3157 per share, and the purchased shares represent 0.07% of the issued capital. There are 39,942,080 shares remaining for purchase. Mariam Jowhary, Head of Compliance & AML, is the contact person for this announcement.
On March 19, 2025, Amlak Finance P.J.S.C held a board meeting from 3:00 PM to 4:45 PM with all seven board members present, achieving full quorum. The board decided to call for the Annual General Meeting on April 21, 2025, pending approval from the Securities and Commodities Authority. They also discussed routine business matters. The meeting's authorized signatory was Lama Takieddin, Head of Corporate Governance and Company Secretary.
Dubai Taxi Company held its Annual General Meeting on March 19, 2025, at the InterContinental Hotel in Dubai, with options for in-person and electronic participation. The meeting achieved a legal quorum, and the following resolutions were approved by a majority of the votes: 1. Appointment of Mr. Vicken Khochafian as the Secretary for the Meeting and LUMI as the Vote Collector. 2. Approval of the Board of Director’s Report on the company's activities and financial position for the fiscal year ending December 31, 2024. 3. Approval of the independent external auditor’s report for the fiscal year ending December 31, 2024. 4. Approval of the company's balance sheet and profit and loss account for the fiscal year ending December 31, 2024. 5. Approval of the Board of Director’s proposal to distribute cash dividends for the second half of the fiscal year ending December 31, 2024, amounting to AED 122,308,369 (4.89 Fils per share), representing 85% of the net profit for the period. The Board is also authorized to distribute semi-annual dividends for the first half of the financial year 2025 in line with the company's article of association and dividend policy. The last entitlement date for dividends is March 27, 2025, with the ex-dividend date on March 28, 2025, and the record date on April 2, 2025.
On March 19, 2025, GFH Financial Group B.S.C. announced the appointment of Mr. Bhaskar Mehta, the Chief Risk Officer, as the Acting Chief Financial Officer. This appointment follows the departure of Mr. Surya Hariharan from the position of Group Chief Financial Officer. Mr. Mehta will serve as Acting CFO until a permanent replacement is found. The announcement was made by Mariam Jowhary, Head of Compliance and AML.
GFH Financial Group B.S.C. announced the appointment of Mr. Pietro De Libero as the Board Secretary in addition to his responsibilities as the Chief Legal Officer.
Al Salam Bank B.S.C held its General Assembly Meeting on Wednesday, 19 March 2025, from 11:00 am to 12:10 am at The Ritz Carlton, Al Ghazal Hall 3 in Bahrain. The meeting was chaired by H.E. Shaikh Khalid Bin Mustahail Al Mashani. The quorum for the Annual General Meeting (AGM) was 75.43%, and for the Extraordinary General Meeting (EGM), it was 75.51%. Attendance was broken down into 0.06% personal attendance and 75.37% proxy attendance, with electronic voting also being utilized. The meeting included decisions and resolutions from the General Assembly.