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GFH Financial Group B.S.C. has announced the acquisition of 16,091,447 of its treasury shares, increasing its total holding from 207,492,614 shares (5.41% of total issued shares) to 223,584,061 shares (5.83% of total issued shares) as of 22nd March 2024. The decision to purchase was made in a board meeting in September 2021 and approved by the Authority in March 2024. The shares were purchased at an average price of $0.300 USD per share, representing 0.42% of the issued capital.
AD Ports Group has announced the signing of a purchase agreement with Inveco LLC to acquire a 60% stake in the Tbilisi Dry Port, a new rail-connected logistics hub in Georgia. The group will initially invest AED 61 million ($16.5 million) in the project, which is expected to be operational by Q4 2024. The port is a key logistics hub along the Middle Corridor, a trade lane linking Western Asia to Eastern Europe. The project will include facilities such as a container freight station, warehouses, and a car storage park. It will offer significant intermodal logistics capabilities, and will be developed in three phases.
The Invictus Investment Company PLC Board of Directors is set to hold a virtual meeting on March 26, 2024, at 3:05pm UAE time. The agenda includes reviewing the approval of a binding offer and finalizing the purchase of a majority stake in a Morocco-based trading company. The board will also discuss other general business matters that may not significantly impact the company's share price.
The Board of Directors of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) will meet on 27 March 2024 at 4:30 p.m. in Abu Dhabi. The agenda includes the election of the Chairperson and Deputy Chairperson of the Board, appointment of a new Board Secretary, and appointment of the Board Committees' chairpersons and members. Other general business matters will also be discussed. The notification was sent by the Board Secretary, Mann El Aydi, to the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange and the Securities and Commodities Authority.
The Board of Directors of the Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) has approved a proposal to pay the board AED 25.56 million as remuneration for the financial year ended 31 December 2023. The proposal will be presented to the company's shareholders for approval at the General Assembly Meeting scheduled for 27 March 2024.
On 22nd March 2024, the Market Operations Surveillance Department of Abu Dhabi Securities Exchange announced the list of candidates for the Board of Directors of Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution). This follows the opening of nominations for the board membership on 5th March 2024. The candidates, who are all non-executive and independent, will be presented to the shareholders at the annual General Assembly Meeting on 27th March. The candidates include H.E. Dr. Sultan Ahmed Al Jaber, H.E. Ahmed Jasim AlZaabi, Mr. Khaled Salmeen, Mr. Khaled Al Zaabi, Mr. Marwan Naim Nijmeh, Mr. Saif Al Falahi, and Mrs. Paula Disberry.