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On 8 March 2024, Investcorp Capital plc entered into a new revolving credit facility agreement worth USD 800 million with a syndicate of regional and international banks. The credit facility, which is guaranteed by Investcorp S.A., is expected to positively impact Investcorp Capital plc's financial position. The initial utilization of the facility will be used to fully repay an intercompany receivable between a subsidiary of Investcorp Capital plc and Investcorp S.A. The additional funds will be used for Investcorp Capital plc's corporate purposes and to support its investment strategy. The financial impact will be reflected in the first quarter of 2024 ending 31 March 2024. The announcement was signed by H.E. Mohammed Alardhi, Chairman of the Board.
On 11/03/2024, GFH Financial Group B.S.C. announced the sale of 40,777,778 of its treasury shares, representing 1.06% of its total issued shares, to a strategic investor. As a result, the total number of treasury shares held by the company now stands at 57,969,050 shares, representing 1.51% of the total. The announcement was made by Mariam Jowhary, the Head of Compliance & AML of the company.
GFH Financial Group B.S.C. announced on 11/03/2024 that it has received approval from the Central Bank of Bahrain (CBB) to repurchase its shares. The repurchase is in line with the Ordinary General Meeting's resolution dated 14th October 2021, which approved the repurchase of up to 10% of the Group's total issued shares (treasury shares). The company will begin the share repurchase from 12th March 2024. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.
On March 6, 2024, the Abu Dhabi National Takaful Company - PSC -Takaful held a board meeting with all nine members present. The meeting approved the minutes of the previous board meeting and the company's financial statements for the period ending December 31, 2023. The board also approved the invitation to the general assembly meeting scheduled for April 16, 2024, and the meeting's agenda, pending necessary approvals from competent authorities. The board proposed cash dividends of AED 31,500,000.00, representing 30.00% of the paid capital or 31.50 fils per share, to be presented to the General Assembly. Additionally, the board approved the reformation of its committees and discussed and approved general operational issues. The meeting was signed off by the CEO, Osama Abdeen.