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On April 30, 2024, the Annual General Assembly Meeting of Union Properties PJSC was held at the Ritz Carlton Hotel, DIFC, Dubai. The meeting was also available virtually via the LUMI platform. The meeting's outcomes included the appointment of Mr. Fadi Saba as the meeting rapporteur and Mr. Yousef Qaren as the vote collector. The majority of shareholders approved the Board of Directors' report on the company's activities and financial position for the financial year ending on December 31, 2023. They also ratified the Auditor's Report, the company's balance sheet, and profit and loss account for the same financial year. Finally, the majority of shareholders approved the appointment of new Board member Mr. Abdulrahman Sharaf, who replaced a resigned Board member.
Emirates Telecommunications Group Company (e& group) held a board meeting on April 30th, 2024 with all board members present. The board approved the Condensed Consolidated Interim Financial Information for the three months ending on March 31st, 2024. They also discussed standard matters related to the company's business and passed appropriate resolutions.
The Mashreqbank PSC, based in Dubai, UAE, has written to the Dubai Financial Market to clarify recent news reports regarding the acquisition of banking licenses in Saudi Arabia, Oman, and Pakistan. The bank denies the reports and states that it is in the preliminary stages of expanding its activities in these countries. Mashreqbank also emphasizes its commitment to the disclosure and transparency requirements of the Securities and Commodities Authority and the Dubai Financial Market and will continue to inform the market about all material transactions when they are finalized. The letter is signed by Shaima Al Obeidli, Head of Corporate Governance & Group Company Secretary.
GFH Financial Group B.S.C. has announced the purchase of 38,662,943 of its own shares (treasury shares), increasing its total holding from 214,854,035 (5.61% of total issued shares) to 253,516,978 (6.61% of total issued shares) as of 30th April 2024. The decision to purchase was made in a company board meeting in September 2021, with authority approval obtained in April 2024. The average purchase price was $0.297 USD per share, accounting for 1.009% of the issued capital. There are still 129,742,405 shares remaining for purchase.
Fertiglobe Plc held its Annual General Assembly Meeting on 30 April 2024, chaired by H.E. Dr. Sultan Ahmed Al Jaber. The meeting had a quorum of 89.32% and took place at the company's head office in Abu Dhabi, with virtual attendance permitted. The assembly approved the Board of Directors' report, the external auditor's report, the standalone audited financial statements, and the consolidated audited financial statements for the financial year ended 31 December 2023. The recommendation for a cash dividend distribution of USD 200 million for the second half of the financial year was approved, bringing the total cash dividend for 2023 to USD 475 million. The payment of AED 9.71 million to the Board of Directors was also approved. The Board of Directors and auditors were discharged from liability for their 2023 activities. PriceWaterhouseCoopers was appointed as the external auditors for 2024, with a remuneration of USD 1,289,605 plus VAT.