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Al Yah Satellite Communications Company PJSC has disclosed its intention to consider and adopt a written resolution by circulation. The date of circulation is set for 17 July 2024, after 3:00 PM. The subject of the resolution is to consider general business, operational, and strategic items that do not affect the company's share price. The authorized signatory is Clint Irwin Fransquinho de Barros, the Board Secretary.
On July 9, 2024, Mr. Andre G. Sayegh resigned as Chairman of Multiply Group PJSC’s Board of Directors due to personal reasons and professional commitments. The Board expressed gratitude for his contributions and wished him success in his future endeavors. Mr. Syed Basar Shueb was appointed as the new Chairman effective July 10, 2024. This notification was copied to the Securities and Commodities Authority and the Abu Dhabi Securities Exchange.
On 11th July 2024, Ras Al Khaimah National Insurance Company PSC announced the resignation of Mrs. Lamia Zouari from her position as Board Secretary, effective from 12th July 2024. Until a new Board Secretary and Investor Relations officer is appointed, inquiries related to the Board should be directed to Mr. Sanjeev Badyal, the company's Chief Executive Officer. He can be contacted via email at sanjeev.badyal@rakinsurance.com or mobile at 050 8844746. The announcement was made on behalf of the company by Mr. Sanjeev Badyal.
On July 9, 2024, Mr. Andre G. Sayegh resigned as Chairman of Multiply Group PJSC's Board of Directors due to personal reasons and professional commitments. The Board expressed gratitude for his contributions to the group's growth and wished him success in his future endeavors. Subsequently, Mr. Syed Basar Shueb was appointed as the new Chairman of the Board of Directors, effective July 10, 2024. This notification was sent to the Securities and Commodities Authority (SCA) and the Abu Dhabi Securities Exchange.
Incorporated in Abu Dhabi by Law No. 18 of 1975 and registered under No. 3 on 8/8/1984 in the Insurance Companies Register, Al Ain Ahlia Insurance Company operates under the provisions of Federal Decree-Law No. 48 of 2023 regulating insurance activities. The company has a paid capital of AED 150,000,000. A board meeting is scheduled for Thursday, 18th July 2024, at 11:00 AM to discuss the ordinary business of the company and any other items. The meeting will be authorized by Yaser Ibrahim Hmedan, the Board Secretary.
Abu Dhabi National Insurance Company PJSC held its Board of Directors Meeting No. 5/2024 on Thursday, July 11, 2024, from 11:00 am to 12:30 pm. All five required board members were present, meeting the quorum. The board approved the meeting agenda, the minutes from the previous meeting held on May 27, 2024, and a proposal from the executive management to explore strategic growth opportunities for the company. The meeting details were signed and stamped by Omar Khedr, the Board Secretary.
GFH Financial Group B.S.C. issued an announcement on July 11, 2024, to clarify statements made by the CEO of GFH Partners Limited, the group's global asset management arm. The clarification specifies that the mentioned total value of one billion dollars represents the expected total value of assets owned by funds that have been launched and will be launched throughout the rest of the year. This includes both equity and debt portions of the funds. The financial impact of this cannot be assessed at the current stage. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.
Nasdaq Dubai has listed a USD 500 million Sukuk issued by Sharjah Islamic Bank (SIB), which was oversubscribed three times, indicating strong demand from international and regional investors. This is the sixth issuance under SIB's USD 3 billion Trust Certificate Issuance Programme, established in 2013, and will mature in 2029. The total value of Sukuk listed on Nasdaq Dubai now stands at USD 93.89 billion, with the total value of listed bonds and Sukuk reaching USD 134.1 billion. The listing event was marked by a bell-ringing ceremony attended by HE Ahmed Saad Ibrahim, DCEO of SIB, and Hamed Ali, CEO of Nasdaq Dubai and DFM. Both executives highlighted the significance of the listing in reinforcing Nasdaq Dubai's role as a leading global market for Sukuk and supporting the growth of Islamic finance.
Fertiglobe has been selected as the winning bidder in the H2Global pilot auction to supply renewable ammonia to Europe at a delivered price of €1,000 per ton until 2033. The contract, valued at up to €397 million, involves supplying renewable ammonia from Egypt, supported by the Egypt Green Hydrogen consortium. This initiative, funded by the German Federal Ministry for Economic Affairs and Climate Action, aims to support the production and supply of renewable hydrogen and ammonia. Fertiglobe's bid will help Europe enhance energy security and reduce emissions, aligning with broader efforts to decarbonize the energy market. The project is a significant step towards the Final Investment Decision (FID) on Egypt Green Hydrogen, expected in the first half of 2025.