Latest Threads

The Board of Directors of Union Properties PJSC held their first meeting for 2024 on March 12th. They approved the minutes of the previous meeting and ratified the previous resolutions made by circulation. The Board also approved the audited consolidated financial statement for the year ending December 31, 2023, and the Company’s Annual Integrated report for 2023, which includes the Governance and Sustainability reports. They also approved to call for the Annual General Assembly Meeting of the Company and to set its agenda in coordination with the Securities and Commodities Authority. Other matters were also discussed. The letter was signed by Fadi Saba, the Board Secretary of Union Properties PJSC.

The text is a formal communication dated 12th March 2024, from Ali Al Hashimi, the Chief Financial Officer of Dubai Financial Market (PJSC), to Dr. Maryam Buti Al Suwaidi, Chief Executive Officer of Securities and Commodities Authority in Abu Dhabi, and Mr. Hamed Ahmed Ali, Chief Executive Officer of Dubai Financial Market. The letter refers to a previous disclosure from the company dated 6th March 2024. It informs the recipients that the Board of Directors of the Dubai Financial Market has passed a resolution by circulation related to regular and internal matters.

Resolution No. 323 of 2024 temporarily suspends trading of United Fidelity Insurance Company's shares on the ADX, as per article No. 16 of the Regulations Concerning the Listing of Securities. The suspension is due to the company's Board of Directors meeting scheduled for 13:00 on 14-Mar-2024, which coincides with the ADX trading session. Trading will be suspended from 09:00 on 14-Mar-2024 until the ADX receives the meeting results. All department heads at ADX are required to implement this resolution. The resolution should be circulated to SCA, the concerned company, all ADX departments, and all ADX-accredited brokers. The resolution was approved by the authorized person and issued on 12/03/2024.

The Dubai Financial Market has announced the availability of a new series of equity futures contracts, starting from 14 March 2024. The June 2024 SSFs Contract Series includes a variety of different securities, all of which will be de-listed on 20 June 2024. The contracts range from AIRARB FUT - June 2024 to SHUAA FUT - June 2024. The announcement can be found on the DFM website. However, this information is subject to change and should be cross-referenced with the Dubai Financial Market Regulated Derivative Contract Trading Regulation.

On March 6, 2024, the Board of Directors of Abu Dhabi National Takaful Company - PSC - Takaful held a meeting from 11:00 AM to 1:00 PM. All nine board members were present, achieving a 100% quorum. The board approved the minutes of the previous meeting and the company's financial statements for the period ending December 31, 2023. They also approved the invitation to the general assembly meeting scheduled for April 16, 2024, subject to necessary approvals. The board proposed cash dividends of AED 31,500,000.00, representing 30.00% of the paid capital or 31.50 fils per share. The reformation of BOD committees was approved and general operational issues were discussed and approved. The meeting's decisions were signed by CEO Osama Abdeen.

Al Salam Bank B.S.C, a Bahrain-based Islamic Retail Bank, has announced an increase in its shareholding in Al Salam Bank Algeria (ASBA) from 53.1% to 66.7%, following the purchase of additional shares from other shareholders. The impact on the bank's financial position will be disclosed in due course. Previously, on 3 January 2023, the bank had increased its shareholding in ASBA from 16.58% to 37.43%. Then, on 21 June 2023, the bank acquired a majority stake in ASBA, increasing its shareholding from 37.4% to 53.1%.