Latest Threads

Emirates Investment Bank has opened nominations for its Board of Directors membership. The nomination period will run from 4th to 14th March 2024. Interested shareholders who meet the nomination conditions can apply for membership in the roles of executive, non-executive, or independent member. The board will consist of seven members. The bank has set certain conditions for nominations as per Decree Federal Law No. (32) of 2021 and the Chairman of Authority’s Board of Directors’ Decision no. (3 / Chairman) of 2020. After the nomination period ends, candidates cannot transfer their nomination to another person. The list of candidates will be published on the company's website and its head office on 15th March 2024.

Dubai-based property developer, Deyaar Development, has launched its new residential project, ELEVE, in Downtown Jebel Ali. The project, located on Sheikh Zayed Road, is characterized by its luxurious lifestyle, proximity to transport networks and shopping malls, and open views towards the Arabian Gulf. The development, which aligns with Dubai's 2040 Urban Master Plan, includes 33 floors of residential units, ranging from studios to three bedrooms, and offers amenities such as a gym, swimming pool, jacuzzi, multipurpose hall, outdoor seating and BBQ areas. The project also includes four floors of parking and service areas and a retail arcade on the ground floor. Construction is set to be completed in Q2 of 2027.

The Board of Directors of Emirates Investment Bank PJSC has invited all shareholders to the Annual General Meeting on Tuesday 26 March 2024 at 11:30 AM at the bank's head office in Dubai, or through a remote video connection via Zoom. The agenda includes reviewing and approving the bank's activities, financial position, and auditors' report for the financial year ending 31 December 2023. The meeting will also consider the proposal not to distribute dividends for the financial year 2023, blocking the remuneration of board members, discharging the board members and auditors from their liabilities, appointing auditors for the financial year 2024, electing board members for the period 2024-2027, and approving the appointment of shareholders' representatives. Shareholders can delegate a representative to attend the meeting. The meeting will be held valid if attended by shareholders who own or represent at least 50% of the bank's capital. If this quorum is not met, a second meeting will be held on 02 April 2024.

The CEO of Taaleem Holdings PJSC, Alan Williamson, has sent a letter to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market. The letter informs Mr. Ali about a scheduled Board of Directors meeting on Thursday, 29th of February 2024 at 3:00 pm. The meeting will be held at the company's office premises and will also be accessible via remote attendance. The agenda for the meeting includes discussing routine business issues, following up on the company's activities, and addressing any other matters with the Chairman's permission. The Securities and Commodities Authority have also been CC'd in the letter.

On February 26th, 2024, the Board of Directors of Drake & Scull International PJSC held its first meeting of the year. The Board approved the minutes of the previous meeting and decided to call a General Assembly meeting as soon as possible, subject to the approval of the Securities and Commodities Authority (SCA) and Dubai Financial Market (DFM). The Board plans to discuss and approve the resumption of trading of the Company’s shares, increase in the share capital of the Company according to the terms approved by SCA and DFM, and the Company being an obligor in respect of a mandatory convertible Sukuk issuance aligned with the settlement plan.

The Board of Directors of Dubai Islamic Bank PJSC has invited all shareholders to attend the Annual General Assembly Meeting on 27th February 2024. If a quorum is not reached, a second meeting will be held on 5th March 2024. Shareholders have the option to attend in person or via remote presence technology. The agenda includes reviewing and ratifying the bank's activities and financial position, the auditor's report, the Internal Sharia Supervision Committee report, balance sheet and profit and loss statement. The board will also discuss cash dividends, remuneration of the board, the discharge of the board and external auditors from liability, and the appointment of members of the Internal Sharia Supervision Committee and external auditors. Special resolutions include authorising the board to issue senior Sukuk and/or other similar instruments, Tier 2 Sukuk, and additional Tier 1 Sukuk. The board will also consider amending the Articles of Association of the Bank.

The Board of Directors of Takaful Emarat Insurance PJSC has invited its shareholders to a general assembly meeting on 27 February 2024. The meeting will be held physically in Dubai and also electronically. The agenda includes reviewing and approving the Company’s capital restructuring plan, discussing the auditor's report on the company's losses, and considering a significant capital reduction subject to certain conditions. The proposed reduction will be by 88.3% of the total issued share capital to extinguish accumulated losses, leading to a cancellation of a specific number of shares. The board seeks full authority to execute the capital reduction as per applicable laws.