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GFH Financial Group B.S.C. has announced the acquisition of 28,556,375 of its own shares (treasury shares) on 26th March 2024. This purchase increases the total holding of treasury shares from 240,009,090 (6.26% of total issued shares) to 268,565,465 (7.01% of total issued shares). The decision to purchase was taken in a board meeting in September 2021 and the Authority approved the purchase in March 2024. The average purchase price was USD 2980 per share.
The Board of Directors of Invictus Investment Company PLC held a virtual meeting on March 26, 2024, at 3:05pm UAE time. All board members were present and approved the issue of a binding offer to purchase up to 60% shareholding interest in Graderco SA Morocco, a major grains trading company, and all its subsidiaries. The board also approved transaction authorities for executing all binding documentation to complete the transaction.
MBME Pay Payment Services Provider, a subsidiary of MBME Group, has signed an agreement with Blue Rewards Single Person Company, part of Al-Futtaim Group. The partnership aims to leverage MBME's digitization services to enhance customer satisfaction and meet their needs. This move is part of MBME Group's expansion plan.
E7 Group, a provider of commercial printing, security solutions, sustainable packaging and distribution services, has confirmed three new security solutions contracts in Africa and LATAM. The contracts, worth AED 12.9 million, cover the provision of electronic identification (eID) and driving license ID solutions. This expands the group's reach beyond the UAE and Middle East, now serving clients in 25 countries. The group's security solutions sector is its primary growth driver, with continuous expansion of its client base and exploration of opportunities in biometrics, digital identity solutions, and full systems integration. E7 Group recently reported an 11% increase in annual revenue to AED 651.9 million and a 106% increase in operational net profit to AED 140.3 million in FY 2023.