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The Extraordinary General Meeting initially scheduled for Tuesday did not achieve the required quorum. As a result, a second meeting will be held on Wednesday, May 29, 2024, at 1:30 pm in the Noble Meeting Room at the Westin City Centre Bahrain Hotel, Seef District, Kingdom of Bahrain.
GFH Financial Group B.S.C. announced on May 29, 2024, that it has received approval from the Central Bank of Bahrain to repurchase up to 10% of its total issued shares as treasury shares, following a resolution passed at the Ordinary General Meeting on March 24, 2024. The share repurchase will commence on May 30, 2024. The announcement was made by Mariam Jowhary, Head of Compliance and AML, and bears the company seal.
On May 29, 2024, The National Investor PrJSC's Board of Directors held a meeting and recommended an asset disposal transaction involving one of its investment properties, an office floor on Reem Island, Abu Dhabi. The property, valued at AED 28.7 million (10.1% of the company's share capital), is to be sold to Mazrui Real Estate LLC, a related party, for AED 24 million. This transaction is subject to shareholder ratification at the General Assembly and approval from the relevant authority in accordance with Article 34 of the SCA Chairman's Decision No. 3 of 2020 on Corporate Governance of Joint Stock Companies. If approved, the transaction is expected to conclude in Q3 2024.