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Mr. Fadi Aboul Hosn, the Chief Financial Officer of Islamic Arab Insurance Company – SALAMA (PSC), has resigned for personal reasons. His last working day will be Thursday, November 20, 2025. He will continue to fulfill his duties and support a smooth transition. A new Chief Financial Officer will be appointed after receiving necessary regulatory approvals from the Central Bank of the UAE, in line with corporate governance standards for insurance companies. The Board of Directors appreciates Mr. Aboul Hosn's contributions and wishes him success in his future endeavors.
The Dubai Financial Market (DFM) announced an adjustment to its Equity Futures Contracts for SALIK due to a cash dividend payment of AED 0.102781 per share approved by SALIK shareholders. Effective August 22, 2025, the adjustment affects three contract series: SALIKU25 (September 2025), SALIKV25 (October 2025), and SALIKX25 (November 2025). The price adjustment involves an adjustment ratio of 0.984818, resulting in new prices of 6.690, 6.747, and 6.738 respectively. The adjusted price will serve as the reference price for trading on August 22, 2025. Further details can be found on the DFM website. The information is subject to change and the DFM Regulated Derivative Contract Trading Regulation takes precedence in case of discrepancies.
Amanat Holdings PJSC has completed the sale of its education real estate asset for AED 453 million, generating a net cash return of AED 294 million. The asset, which includes the real estate of North London Collegiate School, was originally acquired in June 2018 for AED 360 million, with an additional AED 33 million invested in capital expansion. This sale reflects Amanat's strategy of investing in high-potential assets, growing them, and monetizing them at the right time to benefit shareholders and reinvest in attractive opportunities. The transaction delivered a cash-on-cash multiple of 1.7x and an internal rate of return of 10%. Amanat's Chairman, Dr. Shamsheer Vayalil, emphasized the company's focus on unlocking value and generating superior returns for shareholders. CEO John Ireland highlighted the sale as evidence of Amanat's successful investment model and its positive impact on the company's balance sheet and strategic flexibility.
The Board of Directors of the National Central Cooling Company PJSC (Tabreed) invites shareholders to attend the general assembly meeting on Monday, September 15, 2025, at 11:00 am UAE time. Shareholders can attend in person at the company's headquarters in Masdar City, Abu Dhabi, or virtually through an electronic link, which will be sent via SMS or email after registration. The meeting will cover agenda items including authorizing the chairman to appoint a secretary and a vote collector, and a special resolution to amend Article 30 of the Company's Articles of Association. This amendment allows for annual dividends to be distributed based on the annual general assembly's resolution upon the Board of Directors' recommendation. The company may also distribute quarterly or semi-annual dividends from operating or accumulated profits through resolutions by the general assembly or the Board of Directors, with the Board authorized to implement these decisions.