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Resolution No. 354 of 2024 temporarily suspends trading of shares for Emirates Insurance Co. on the ADX platform. This decision is in accordance with Article No. 16 of the Regulations Concerning the Listing of Securities on ADX. The suspension is due to the company's AGM being held at 10:00 on 22-Apr-2024, which coincides with the trading session at ADX. Therefore, trading of EIC shares will be suspended from 09:00 on 22-Apr-2024 until the AGM results are received by ADX. All department heads at ADX are required to execute this resolution in their respective fields. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was approved by an authorized person and issued on 01/04/2024.
SHUAA Capital has delayed the release of its 2023 financial statements due to ongoing debt restructuring negotiations. The company is in the process of amending the terms of $150 million in outstanding bonds, with the outcome expected to be announced by 5 April 2024. SHUAA is seeking support from noteholders for the restructuring, which would involve a third-party capital injection. The company plans to hold a general assembly of shareholders by the end of April to discuss the next steps.
Resolution No. 353 of 2024 pertains to the temporary suspension of trading on the shares of Abu Dhabi National Co. for Building Materials. The suspension will take place on 25-Apr-2024 from 09:00, as the company's AGM is scheduled for 14:00 on the same day, which coincides with the trading session at ADX. The suspension will last until ADX receives the AGM results. The resolution instructs all heads of departments in ADX to execute this resolution in their respective fields. It also mandates that the resolution be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 01/04/2024.
On 1st April 2024, a letter was sent to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market, from Karem Mahmoud, Director of Legal Affairs. The letter was about the annual cash dividends of Dubai Refreshment P.J.S.C. The Annual General Assembly approved the dividends on 27th March 2024. The company has decided to distribute AED 72 million as annual dividends, which is 80% of the paid-up capital, amounting to 0.80 AED per share. The dates for the cash dividends are as follows: record date on 4th April 2024, ex-dividend date on 5th April 2024, and last entitlement date on 12th April 2024. If the record date is a public holiday, it will be moved to the next business day.