Latest Threads

Mashreqbank PSC has disclosed the disposal of 149,555,275 ordinary shares in Depa PLC, which are listed on NASDAQ. The shares were disposed of at AED 0.30 per share, totaling AED 44,866,582.50. The shares were originally acquired pursuant to a court order and had a book value of AED 28.2 million based on market price and an independent valuation at the time of acquisition. The disposal is intended to realize the amount pursuant to the shares acquired.

On 25 September 2024, Dana Gas PJSC held a board meeting from 11:02 AM to 2:00 PM with all 11 board members present, achieving a 100% quorum. The board reviewed the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq, and discussed financing options. They also ratified the Q2 financial statements and considered other routine matters. The meeting's decisions and resolutions were documented by Omran Al Zamani, the Board Secretary, on 26 September 2024.

Al Seer Marine, a subsidiary of International Holding Company, has expanded its fleet with the delivery of two new MR tankers, M.T. Betelgeuse and M.T. Bellatrix, from K Shipbuilding Korea. These tankers are designed to carry six fully segregated grades of cargo and are built to accommodate alternative fuels like LNG, ammonia, and methanol. This acquisition is part of a series of six tankers ordered to meet the increasing demand for the transportation of clean petroleum products and chemicals. Al Seer Marine's investment strengthens its position in the UAE's maritime industry and aligns with its strategy to enhance its commercial shipping portfolio, ensuring long-term growth and adaptability in a dynamic market.

Date: 25/09/2024 Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, Dubai, United Arab Emirates. Subject: Disclosure of Union Properties PJSC Dear Mr. Ali, We confirm the validity of the media interview conducted by Al Khaleej Newspaper with Eng. Amer Khansaheb, Chief Executive Officer and Board Member of Union Properties PJSC. The interview was published today, Wednesday, 25th of September 2024, in Al Khaleej Newspaper and its website. The interview is titled: "Union Properties to Al Khaleej: 10 million feet of land bank, and projects worth 6 billion soon." Below is the link to the media interview: [Link] Sincerely, Khaled Chaaban, Board Secretary, Union Properties PJSC.

Gulf Navigation Holding PJSC (GULFNAV) announced key decisions by its Board of Directors regarding the acquisition of assets from Brooge Energy Limited, a NASDAQ-listed company specializing in the storage of crude oil and refined fuel products. The Board approved strategic terms for the acquisition and a capital increase, which will be presented to shareholders after approval from the Securities and Commodities Authority. This acquisition aligns with GULFNAV's strategy to expand its logistical services in the oil, gas, and petrochemical sectors. Brooge, headquartered in Fujairah, has a storage capacity of one million cubic meters and aims to double this capacity. The Board also approved the auditors' report and financial statements for 2023, along with the acquisition's structure and payment mechanism, which includes cash payments, mandatory convertible bonds, and new shares. A capital increase of approximately 448.5 million dirhams was approved to facilitate the acquisition.