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The Al Ain Ahlia Insurance Company, incorporated in Abu Dhabi in 1975, is inviting shareholders to its Annual General Assembly Meeting on April 23, 2024. The meeting can be attended in person or remotely through www.smartagm.ae. The agenda includes the approval of the company's financial reports, discussion on the balance sheet, and profit and loss accounts for the fiscal year ended on December 31, 2023. The board also proposes a 20% cash dividend distribution, amounting to AED 30 million. Other points of discussion include the remuneration of board members, appointment of auditors for 2024, and potential amendments to the company's Articles of Association in compliance with Federal Decree Law No. (32) of 2021.
On 24th March 2024, GFH Financial Group announced its acquisition of 235,000 treasury shares. This purchase increased the company's total holding of treasury shares from 223,584,061 (5.83% of total issued shares) to 223,819,061 (5.84% of total issued shares). The decision to purchase was made during the company's board of directors meeting in September 2021 and was approved by the Authority in March 2024. The shares were purchased at an average price of USD 4300, representing 0.06% of the issued capital.
The GFH Financial Group has concluded its Annual General Meeting, where shareholders approved a 6.2% cash dividend of the nominal value of all ordinary shares, excluding treasury shares. An amount of US$3 million was also allocated for obligatory Zakat from retained earnings. The minutes of the previous meeting, the Board of Directors' report, the consolidated financial statements for the year ended 31st December 2023, the Sharia Supervisory Board's report, and corporate governance reports were all approved. The Board members were released from liability for their actions during 2023, and the appointment and reappointment of external auditors for 2024 was confirmed. Shareholders authorized the Group to repurchase up to a certain amount of shares.
GFH Financial Group announced on 22 March 2024 that it has acquired an additional 16,091,447 of its own shares (treasury shares), increasing its total treasury shares from 207,492,614 (5.41% of total issued shares) to 223,584,061 (5.83% of total issued shares). The decision to purchase was taken in a board meeting in September 2021, with authority approval given in March 2024. The shares were purchased at an average price of USD 0.0300.