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Ali Musmar, the Chief Executive Officer of ARAM Group Company PJSC, sent a letter to the Disclosure and Compliance Section and Market Operations Surveillance Department of Abu Dhabi Securities Exchange. The letter, dated March 20, 2024, serves as an invitation to the Annual General Assembly Meeting of ARAM Group Company PJSC. The meeting is scheduled to take place on Monday, April 15th, 2024 at 11:00 a.m. at the company's head office in Sharjah. Shareholders have the option to attend the meeting remotely. An announcement for the meeting and an invitation for the nomination for the Board of Directors of the company will be published on March 25th, 2024. A copy of the invitation was also sent to the Securities and Commodities Authority (SCA) in Abu Dhabi, UAE.
Eshraq Investments has announced its FY 2023 results, revealing a net loss of AED 545.10 million, compared to a net profit of AED 589.79 million in 2022. This decline was driven by changes in the value of the Goldilocks Fund and increased net finance costs due to a higher interest rate environment. The company also reported a 48% reduction in total liabilities, mainly due to reduced borrowings. The net investment value of the Goldilocks Fund stood at AED 1.34 billion at the end of 2023, down from AED 1.75 billion in 2022, due to market volatility and an intensive asset revaluation process. Eshraq also announced changes to its board and plans to reveal a refreshed corporate strategy in the coming weeks.
The document presents the consolidated financial statements and reports for Eshraq Investments PJSC for the year ending 31 December 2023.
The Board of Directors of Eshraq Investments PJSC held a meeting on March 19, 2024, with all members present. The board approved the company's audited financial statements for the financial year ending December 31, 2023, and the Corporate Governance Report for the same year. They also approved the agenda of the Annual General Assembly of the Company (AGM) and will schedule a meeting date in agreement with the Securities and Commodities Authority. Decisions about internal administrative and organizational matters were also made.