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The text refers to the independent auditor's review report and condensed consolidated interim financial statements of Fujairah Cement Industries PJSC and its subsidiary. The report covers the financial performance for the three-month period ending on March 31, 2024. The information provided is unaudited.

Fujairah Cement Industries PJSC reported a loss of AED 38,341,852 for the three months ending 31/03/2024. This significant loss was primarily due to the suspension of the company's clinker and cement sales during Q1-2024, resulting in a 99.67% decline in revenue compared to Q1-2023. Other financial details include a gross loss of AED 94,850, selling & distribution expenses of AED 577,099, general & admin costs of AED 2,154,691, production idle cost of AED 24,075,115, and finance costs of AED 10,705,866. The company's total assets stood at AED 1,299,128,191, with equity & reserves at AED 383,500,657. The cash and bank balance at the end of the period were AED 6,639,286. Key performance indicators showed a gross loss ratio of -34.05%, a net loss ratio of -13,763%, a cash loss ratio of -8,019%, and a loss per share of -0.108 UAE Dirhams.

Fujairah Cement Industries PJSC reported accumulated losses of AED. 168,862,575 for Q1-2024, marking a continuation of losses since 2020. The company's accumulated losses to capital ratio stands at 47.45%. Causes for these losses include increased costs of coal/energy, lowered selling prices of clinker, revenue decline, heightened logistics and finance costs, provisions for obsolete/slow-moving inventory, inventory write-downs of finished & semi-finished products, and impairment on PPE of the subsidiary. The company's operations were suspended from 01.01.2024 due to major refurbishment activities and extended due to financial liquidity constraints. The board has engaged EY Consulting LLC to assist in restructuring and assessing options for resumption of operations.

The General Manager of the Abu Dhabi Securities Exchange, Saeed Ahmed Ghareib Alseridi, has announced that the Board of Directors has reviewed and approved the interim financial statements for the period ending 31/03/2024. The approval was given by the Chairman of the Board of Directors on 14/05/2024 at 04:00 pm.

HAYAH Insurance Company P.J.S.C, located in Abu Dhabi, is a Public Joint Stock Company funded by a paid-up capital of AED 200 million. It is registered with the Central Bank of the UAE with registration no. 83 dated 16/09/2008. On 14th May 2024, the company held a board meeting with a 87.5% quorum. The meeting started at 11:00 AM and ended at 12:40 PM. During the meeting, the board approved the Annual Audited Financial Statements for the period ended 31st March 2024 and discussed the latest developments in business and administrative matters. The meeting was attended by seven board members, with Mohamed Seghir, the Chief Executive Officer, as the authorized signatory.