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Resolution No. 509 of 2024 involves the temporary suspension of trading for Abu Dhabi National Takaful Co. shares. This suspension is due to a Board of Directors meeting scheduled for 10:00 on November 12, 2024, which coincides with the trading session at the Abu Dhabi Securities Exchange (ADX). Trading in TKFL shares will be suspended from 09:00 on November 12, 2024, until the results of the meeting are received by ADX. All department heads at ADX are instructed to implement this resolution within their respective areas. The resolution will be distributed to the Securities and Commodities Authority (SCA), the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution has been approved by the authorized person and was issued on November 7, 2024.
Resolution No. 508 of 2024 involves the temporary suspension of trading for Aram Group shares. This decision is in accordance with Article No. 16 of the ADX Securities Listing Regulations. The suspension will occur because the Aram Group Board of Directors meeting is scheduled for 11:00 on November 13, 2024, which coincides with the trading session. Trading will be halted from 11:00 on that day until the results of the meeting are received by ADX. The resolution mandates that all department heads at ADX execute it within their respective areas. It will be distributed to the SCA, the concerned company, all ADX departments, and all ADX-accredited brokers. The resolution has been approved by the authorized person and was issued on November 7, 2024.
Resolution No. 507 of 2024 addresses the temporary suspension of trading for Union Insurance Company shares on the Abu Dhabi Securities Exchange (ADX). The suspension is due to a Board of Directors meeting scheduled for November 12, 2024, at 10:00 AM, which coincides with the trading session. Trading will resume once ADX receives the meeting results. All ADX department heads are instructed to implement this resolution, and it will be communicated to the Securities and Commodities Authority, the concerned company, all ADX departments, and accredited brokers. The resolution was approved by an authorized person and issued on November 7, 2024.
Resolution No. (506) of 2024 concerns the temporary suspension of trading shares of Al Buhaira National Insurance Company on the Abu Dhabi Securities Exchange (ADX). This decision is due to a Board of Directors meeting scheduled for 11:00 on November 13, 2024, which overlaps with the trading session. Trading will be suspended from this time until ADX receives the meeting results. The resolution mandates all ADX department heads to implement it within their areas and requires its distribution to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by an authorized person and issued on November 7, 2024.
Mr. Walter Jopp has resigned from his position as Chief Executive Officer of the Islamic Arab Insurance Company (SALAMA PSC) for personal reasons, with his last working day set for January 4, 2025. The Board of Directors expressed gratitude for his contributions and wished him well in his future endeavors. Mr. Jopp will continue to manage company operations and support a smooth transition. The Board plans to appoint a new CEO after obtaining necessary regulatory approvals from the UAE Central Bank, in line with Corporate Governance Regulations for Insurance Companies.