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On May 30, 2024, Mr. Hamed Ahmed Ali, the CEO of the Dubai Financial Market, was informed about an upcoming board meeting of the National Cement Company P.S.C. The meeting is scheduled for Tuesday, June 4, 2024, at 12:30 PM. The agenda includes the approval of the minutes from the previous meeting, discussing the company's business, and other related matters. The notification was sent by Mohammed Abdulla Ahmed Al Ghurair, the General Manager of the National Cement Company, with a copy also sent to the Securities and Commodities Authority.
Resolution No. (423) of 2024 announces the temporary suspension of trading for the shares of the National Corporation for Tourism & Hotels (NCTH). This suspension will occur from 12:00 on June 5, 2024, until the Abu Dhabi Securities Exchange (ADX) receives the results of the NCTH Board of Directors meeting, which coincides with the trading session. The resolution mandates all ADX department heads to implement this decision and requires the resolution to be circulated 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 May 30, 2024.
On May 29, 2024, the Abu Dhabi National Company for Building Materials (BILDCO) held its third board meeting of the year. The following decisions were made: 1. Approval of the minutes from the second board meeting of 2024. 2. Approval of a settlement agreement with First Abu Dhabi Bank concerning debt restructuring and waiver of lawsuits. 3. Approval of a settlement agreement with Abu Dhabi Ports regarding the payment of a debit balance after a 57% discount, debt restructuring, and waiver of lawsuits. 4. Approval to convene a General Assembly in the first week of July 2024 to approve the settlement with First Abu Dhabi Bank, with the Executive Management authorized to set the date after obtaining necessary approvals. The meeting was held at 14:00 PM on May 29, 2024.
**Al Ansari Financial Services Warns Public of Impersonation Scam** **Dubai, UAE – 30 May 2024:** Al Ansari Financial Services PJSC (DFM: ALANSARI) has alerted the public about unlicensed firms impersonating the Group or its subsidiary, Al Ansari Exchange, to promote fraudulent "high-return" investment schemes. These scams, often found on social media, misuse the Group's name and logo to gain trust. Al Ansari Financial Services emphasizes that its shares are traded only on the Dubai Financial Market (DFM) through licensed brokers and does not solicit investments via social media or unauthorized channels. **Protective Measures:** - **Invest with licensed firms:** Verify licenses with the Securities and Commodities Authority (SCA) or DFM. - **Beware of high-return promises:** High returns with no risk are typically scams. - **Conduct independent research:** Investigate firms thoroughly before investing. - **Verify identity:** Contact Al Ansari Financial Services directly if uncertain about a firm's legitimacy. - **Report suspicious activity:** Notify authorities of any suspected impersonation. Al Ansari Financial Services is dedicated to promoting financial literacy and educating the public about investment scams. For more information, visit their website or contact them directly.
Dubai Electricity and Water Authority PJSC (DEWA) announced that Moody's has upgraded its long-term issuer rating from Baa2 to A3 with a stable outlook. This upgrade reflects positive macroeconomic trends in Dubai, DEWA's strong market position, robust asset base, favorable tariff structure, and strong liquidity profile. DEWA's leadership attributed the upgrade to the visionary guidance of Dubai's leaders. The improved rating is expected to enhance DEWA's financial and operational performance, ensuring consistent dividends for shareholders. According to DEWA's dividend policy, the company plans to pay a minimum annual dividend of AED 6.2 billion for the first five years starting October 2022.