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On 11th March 2024, Mr. Ajit Joshi, a member of the Board of Directors of SALAMA - Public, expressed his wish to resign from the board for personal reasons. His resignation has been accepted by the board, appreciating his services during his tenure. The information was conveyed by Khaled Barakat, the General Counsel of the company, to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market.
The GFH Financial Group has announced that it has acted as a Joint Lead Manager and bookrunner for the successful issuance of a $500 million 5-year sukuk by Arabian Centers Company (Cenomi Centers), Saudi Arabia's largest shopping mall owner, developer, and operator. This investment is expected to positively impact the Group's financials and increase their returns.
The Annual General Meeting of Al Salam Bank B.S.C. is scheduled for 31 March 2024, with provisions for rescheduling on 8 April and 21 April, if necessary. The agenda includes approval of the previous meeting's minutes, discussion and approval of the bank's activities and financial statements for the year ended 31 December 2023, and the appointment of the Shari’a Supervisory Board and external auditors for the year ending 31 December 2024. Shareholders will also vote on the distribution of the net profit for the year ended 31 December 2023, including transfers to reserves, dividends, charitable donations, and retained earnings. The meeting will also address the bank's corporate governance report, absolution of board members from liability, and the election of a new board of directors. Shareholders can attend in person or appoint a proxy to vote on their behalf. Proxy forms must be submitted 24 hours before the meeting.
The Chairman of Al Salam Bank B.S.C. has invited shareholders to attend the Bank's Annual Ordinary and Extra Ordinary General Assembly meetings to be held on 31 March 2024. The agenda includes approving the minutes of previous meetings, discussing and approving the Board of Directors' report, the Shari'a Supervisory Board's report, and the external auditors' report. It also includes discussing and approving the consolidated financial statements, reporting transactions with related parties or major shareholders, and approving recommendations for net profit appropriations. Other items include approving remuneration for board members, receiving and discussing the Bank's Corporate Governance Report, absolving board members of any liability, appointing or reappointing the Shari'a Supervisory Board and external auditors, electing Board of Directors, and discussing any other matters. The Extraordinary General Assembly meeting will discuss ratifying previous meeting minutes, approving increase of share capital, amending the Memorandum of Association and Articles of Association, and authorizing the Chairman or the Bank’s Group CEO to carry out necessary formalities. Shareholders can attend in person or appoint a proxy.
The text pertains to the consolidated financial statements and reports of the Abu Dhabi Ports Company PJSC for the fiscal year ending on 31 December 2023.
On 11 March 2024, the Board of Directors of Abu Dhabi Ports Company PJSC held a meeting via video conference. During the meeting, they approved the company's audited annual financial statements for the financial year that ended on 31 December 2023. The board also invited the company's annual general assembly to convene on 18 April 2024 or any other date agreed by the Securities and Commodities Authority (SCA). The company will publish the agenda for the annual general assembly meeting after obtaining SCA's approval. The board also discussed recent developments related to the company's activities and projects.
On March 8, 2024, Investcorp Capital plc, a listed company, entered into a transaction with a related party, Investcorp S.A. The deal, which constitutes less than 0.001% of the company's capital, involved a guarantee and placement fee. Investcorp Capital plc agreed to pay a 1% fee, equivalent to USD 8 million, to Investcorp S.A. This fee is in relation to the total commitments of a new revolving credit facility arranged by Investcorp S.A and guaranteed by them. Investcorp S.A. owns 71.43% of Investcorp Capital plc. The benefit to the related party is USD 8 million.