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Resolution No. (453) of 2024 concerns the temporary suspension of trading in the shares of Fujairah Cement Industries (FCI). The suspension will occur on September 5, 2024, starting at 11:00 AM, due to the Annual General Meeting (AGM) of FCI coinciding with the trading session at the Abu Dhabi Securities Exchange (ADX). Trading will resume once ADX receives the AGM results. The resolution mandates that all relevant departments in ADX implement this decision and that it be communicated to the Securities and Commodities Authority (SCA), FCI, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on August 5, 2024.
Resolution No. (452) of 2024 announces the temporary suspension of trading for the shares of RAK Co. for White Cement & Construction Materials. This suspension will occur from 10:00 AM on 8th August 2024 until the Abu Dhabi Securities Exchange (ADX) receives the results of the company's Board of Directors meeting, which coincides with the trading session. All relevant departments in ADX are instructed to implement this resolution, and it will be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution has been approved by the authorized person and was issued on 5th August 2024.
On August 2, 2024, a virtual meeting of the Board of Directors of Invictus Investment Company PLC was held at 3:00 PM UAE time, with all board members present. During the meeting, the board approved a binding offer to acquire a majority shareholding in an agro-food manufacturing company based in Africa. This acquisition aligns with Invictus' growth strategy and will complement its existing agro-commodity trading business. The board also approved the necessary transaction authorities to complete all binding documentation related to the acquisition.
Following the General Assembly meeting of Drake & Scull International on July 30, 2024, a new Board of Directors was elected. The newly elected Board held its first meeting on August 2, 2024, where they elected His Highness Sheikh Theyab bin Tahnoon bin Mohammed Al Nahyan as Chairman and Engineer Abdullah Atatreh as Vice Chairman. Sheikh Theyab emphasized the importance of the construction sector in the UAE and expressed confidence in Drake & Scull's positive impact on the industry. Recently, the company announced the write-off of approximately AED 4 billion in losses and the resumption of its stock trading on the Dubai Financial Market after a suspension of over six years.
Resolution No. 451 of 2024 announces the temporary suspension of trading in the shares of Abu Dhabi Aviation Co. due to a Board of Directors meeting scheduled for 14:00 on August 8, 2024. Trading will be halted from this time until the Abu Dhabi Securities Exchange (ADX) receives the meeting results. The resolution mandates that all department heads at ADX implement the suspension and ensures the resolution is communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on August 5, 2024.
Resolution No. (450) of 2024, issued on August 5, 2024, announces the temporary suspension of trading on the shares of Invictus Investment Company PLC due to their failure to submit a financial statement. This suspension will remain in effect until further notice. The resolution mandates that all heads of departments in ADX (Abu Dhabi Securities Exchange) are to implement this decision within their respective areas. Furthermore, the resolution will be circulated 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.
The Dubai Financial Market (DFM) released a weekly summary for Regulated Short Sell (RSS) transactions from July 29, 2024, to August 2, 2024. The summary includes short sell trade volumes and values for two securities: EMAAR Properties PJSC with 4,250 shares traded at AED 36,368.50, and EMAAR Development PJSC with 359 shares traded at AED 3,073.04. For more details on RSS, refer to the DFM Market Rules and Operational Model available on the DFM website. The announcement is also accessible on the DFM news and disclosures page. The provided information is subject to change, and DFM is not liable for any losses resulting from its use.
Resolution No. (449) of 2024 mandates the temporary suspension of trading in AL KHALEEJ Investment shares on the Abu Dhabi Securities Exchange (ADX) starting from 12:00 on August 5, 2024. This suspension coincides with the AL KHALEEJ Investment Board of Directors meeting scheduled at the same time. Trading will resume once ADX receives the meeting results. The resolution requires all ADX department heads to implement this decision and to notify the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution has been approved by the authorized person and was issued on August 5, 2024.
On August 2, 2024, the Board of Directors of Drake & Scull International PJSC held their seventh meeting of the year at 3:00 PM at the company's offices and via Zoom. The Board approved the minutes of the previous meeting, elected H.H. Shaikh Theyab bin Tahnoon Bin Mohammad Al-Nahyan as Chairman, and ENG. Abdulla Atatreh as Vice-Chairman. Additionally, the Board appointed the Chairman and members of the subsidiary committees.