Latest Threads

Sukoon Insurance PJSC, with a paid-up capital of AED 461,872,125 and regulated by the Central Bank of the UAE, disclosed a resolution passed by its Board of Directors on Monday, 30th September 2024. The resolution, passed by circulation at 10:00 am, approved the company's Mid-Year Pricing and Underwriting Performance Report for the period ending 30th June 2024. This information was communicated to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, with a copy sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of Licensing, Supervision, and Enforcement Affairs at the Securities and Commodities Authority in Abu Dhabi.

BHM Capital Financial Services P.S.C, a private joint stock company regulated by the SCA, has notified Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, that the Liquidity Provision Agreement for Agility Global PLC’s shares listed on the ADX will expire on September 30, 2024. Both parties have mutually agreed to terminate the agreement and not extend it for another term. The notification was submitted through the EFSAH System. The letter is signed by Abdel Hadi Al Sadi, CEO of BHM Capital.

Fertiglobe's Board of Directors has approved an interim cash dividend of $150 million for the first half of 2024, equivalent to AED 551 million or 6.6 fils per share. This dividend will be paid in October 2024 to shareholders recorded as of October 10, 2024. The company emphasizes its strong balance sheet and cash flow management, which supports its ability to return value to shareholders while pursuing growth opportunities. Since its IPO in October 2021, Fertiglobe has paid $2.42 billion in dividends. CEO Ahmed El-Hoshy highlighted the company's resilient business model and ongoing value creation initiatives, including the development of a sustainable hydrogen value chain and expansion into ammonia and clean hydrogen solutions. Fertiglobe aims to generate an additional $150 million in annual EBITDA by the end of 2025 through its Manufacturing Improvement Plan and cost optimization program. Key achievements in 2024 include a significant investment decision on a low-carbon ammonia project and securing a contract to supply renewable ammonia from Egypt to Europe. The company reported H1 2024 revenues of $1,048 million, adjusted EBITDA of $378 million, adjusted net profit of $134 million, and free cash flows of $225 million.

Alpha Dhabi Holding PJSC (ADH) has completed the sale of a 49% stake in its subsidiary, Alpha Dhabi Construction Holding (ADCH), to ADQ, an Abu Dhabi-based investment company. ADH retains a 51% share in ADCH, maintaining its involvement in the construction sector through this strategic partnership. ADCH, led by ADH subsidiary Trojan Construction, is known for its role in national development projects in the UAE, including the Zayed National Museum and the Guggenheim Museum, as well as large-scale residential projects. The partnership aims to enhance ADCH’s industry leadership and support Abu Dhabi’s growth through combined expertise. Hamad Al Ameri, CEO & MD of ADH, expressed enthusiasm for the collaboration, highlighting its potential to advance national development and improve project execution. The agreement comes amid significant investments in Abu Dhabi’s construction sector to boost housing, employment, and economic diversification. Alpha Dhabi Holding, established in 2013, is a prominent UAE investment company with over 250 businesses across various industries, employing more than 95,000 people.