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Resolution No. 447 of 2024 announces the temporary suspension of trading for Waha Capital Company shares. The suspension will start at 10:00 AM on August 1, 2024, to coincide with the company's Board of Directors meeting, and will remain in effect until the Abu Dhabi Securities Exchange (ADX) receives the meeting results. All ADX department heads are instructed to implement this resolution within their respective areas. The resolution will be circulated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and all accredited brokers. The resolution was approved by the authorized person and issued on July 30, 2024.
Dubai Insurance Co. informed Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, that the Board of Directors met on July 30, 2024, at 11:00 am at the company's head office. During the meeting, they approved the 2nd Quarter Financials of 2024 and reviewed circular No. 2964/2024 concerning principles of sustainability disclosures. The notice was signed by Sahem Abdel Haq, Head of Legal & Compliance.
Al Ansari Financial Services PJSC (AAFS) has signed an agreement to acquire BFC Group Holdings W.L.L. (BFCGH) for USD 200 million. This acquisition aims to expand AAFS's geographic presence and service portfolio, making it the leading provider of foreign exchange and remittance services in the Gulf Region. The combined entity will have over 410 branches across the UAE, Bahrain, Kuwait, and India, with a workforce of approximately 6,000 employees. The consolidated revenues for FY23 are projected to be around USD 385 million, a 22% increase from AAFS's reported revenue. The transaction is expected to close by Q1 2025, pending regulatory approvals and other conditions.
Date: 30 July 2024 Mr. Hamed Ahmed Ali CEO, Dubai Financial Market Dubai, United Arab Emirates Subject: Notification regarding withdrawal from candidacy for membership in the Board of Directors of Drake & Scull International PJSC The company announces that Mr. Shafiq Abdel Hamid, the current Chairman of the Board of Directors, has submitted a request to withdraw from candidacy for membership in the next Board of Directors. The company, represented by its Board of Directors and Executive Management, extends its sincere thanks to Mr. Shafiq Abdel Hamid for his efforts during his term, which included completing the restructuring process that ensured the company's continuity. Sincerely, Board Secretary Dana Abu Alghanam
Date: 24th July 2024 Mr. Hamed Ahmed Ali Chief Executive Officer Dubai Financial Market Dubai - United Arab Emirates Dear Sirs, Subject: Postponement of the Annual General Assembly meeting of Drake & Scull International P.J.S.C (‘The Company’) We would like to inform you that the quorum for the Annual General Assembly Meeting of the Company was not met. Consequently, another meeting will be held on Tuesday, 30th July 2024 at 3:00 PM at the same location. Sincerely Yours, Dana Abualghanam Board Secretary