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Islamic Arab Insurance Company (SALAMA) has entered into a subscription agreement with Eshraq Investments, a related party, involving a deal that constitutes 14% of SALAMA's capital. Under this agreement, Eshraq will subscribe to Mandatory Convertible Sukuk (MCS) valued at AED 66,825,000, issued by Amana SPV Ltd, a special purpose vehicle in Abu Dhabi Global Markets. These MCS will be mandatorily exchanged and converted into new SALAMA shares at a conversion price of AED 0.46 per share upon SALAMA's exercise of this right, pending necessary regulatory approvals. The MCS are non-tradable and non-transferable.
The text provides information to shareholders about the process of proxy approval as per the Corporate Governance Manual. Shareholders who have the right to attend the general assembly can delegate someone, not affiliated with the company's board, staff, or a securities brokerage company, to attend and vote on their behalf. A proxy cannot represent more than 5% of the company's issued capital. Legal representatives must represent those lacking legal capacity. The shareholder's signature on the power of attorney must be approved by a Notary Public, a commercial chamber, a licensed bank or company with which the shareholder has an account, or any licensed attestation entity. The proxy form should include the shareholder's and brokerage firm's contact details and must adhere to approved signature requirements. For further inquiries, shareholders can contact the provided email address.
Emirates NBD completed the distribution of AED 6.3 billion in annual dividends to shareholders on March 2, 2026, reflecting the bank's strong financial standing. Following a record financial performance in 2025, an ordinary dividend of 100 fils per share was approved at the 19th General Assembly Meeting on February 17, 2026. The bank reported a record profit before tax of AED 29.8 billion for 2025 and achieved a milestone with total assets exceeding AED 1 trillion, driven by a record lending growth of AED 129 billion. This growth highlights Emirates NBD's strategic success in expanding its market share in the UAE and other core markets. The bank's financial strength supports its strategic objectives and maintains operational stability, providing clarity and confidence to the market and investors.
Commercial Bank of Dubai (CBD) has reaffirmed its strong financial position and commitment to providing uninterrupted banking services across all channels, including branches, digital platforms, and remote banking. The bank emphasizes its operational resilience, supported by robust business continuity frameworks, strong liquidity, and prudent risk management. CBD has successfully managed 2.7 million customer interactions recently and maintains full service availability for retail, corporate, commercial, and institutional banking activities. The bank's omnichannel service model ensures clients have continuous access to various banking services. CEO Dr. Bernd van Linder highlighted the bank's focus on maintaining strong customer interactions and operational excellence, supported by a strong liquidity position and a robust capital base.
Emirates Integrated Telecommunications Company PJSC (du), listed on the Dubai Financial Market, has provided a business update confirming that its network infrastructure and customer services are operating normally without any changes in investment strategy. The company maintains strong liquidity and a conservative balance sheet, with AED 4.2 billion in available liquidity. It has confirmed the Board's recommendation for a full-year 2025 dividend of 64 fils per share, with 24 fils already distributed. du serves approximately 9.7 million mobile subscribers and 735,000 fixed customers, highlighting its resilience and essential role in the UAE's telecommunications infrastructure. CEO Fahad Al Hassawi emphasized the company's commitment to uninterrupted connectivity, business resilience, and strategic investments in 5G, fiber infrastructure, enterprise digital solutions, Fintech, and ICT, while ensuring balanced shareholder returns. The company continues to focus on operational excellence, customer service, and disciplined capital management.
Salik Company PJSC, Dubai's exclusive toll gate operator, reported significant financial growth for FY 2025, with revenue increasing by 35.1% year-on-year to AED 3.10 billion and net profit rising by 33.4% to AED 1.55 billion. The company declared cash dividends of AED 890.3 million, which includes 100% of H2 2025 net profit, and special dividends for the year. Total chargeable trips reached 639.1 million, supported by the introduction of variable pricing and the launch of two new toll gates. EBITDA grew by 35.8% to AED 2.14 billion, with a margin of 69.2%. The company's performance was bolstered by Dubai's favorable macroeconomic environment and strategic initiatives, including expanding ancillary revenue streams and enhancing operational efficiency. Salik's strategic priorities focus on sustainable growth and strengthening shareholder value, reflecting its role in Dubai's smart mobility ecosystem.