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Salik Company PJSC's Board of Directors invites shareholders to attend the Annual General Assembly Meeting on April 9, 2025, at 12:00 PM, both virtually and physically at Palazzo Versace, Dubai. Shareholders will receive the meeting link via email and text. The agenda includes reviewing and approving the Board's and Auditor's reports, the company's financial statements, and a proposal for cash dividends distribution totaling AED 1,164,560,713 for 2024. Other items include discharging or holding accountable the Board and auditors, electing new Board members for 2025-2028, and setting the auditors' remuneration for 2025. Shareholders must register online to vote and can attend the meeting virtually or appoint proxies. The quorum requirement is 50% of the company's capital, with a second meeting scheduled if not met. Shareholders can review financial documents on the DFM and company websites.
Union Properties PJSC has invited its shareholders to attend the Annual General Assembly Meeting on April 9, 2025, at the Ritz Carlton Hotel in Dubai and virtually. The agenda includes authorizing the meeting's chairman to appoint a secretary and vote collector, reviewing and approving reports from the Board of Directors, CEO, and auditors for the year ending December 31, 2024, and discussing financial statements and a capital reduction plan. The meeting will also address accumulated losses, auditor and director liabilities, remuneration for the Board, and the appointment of auditors for the next year. Special resolutions will consider reducing the company's capital to address accumulated losses. Shareholders can register for electronic attendance and voting, and proxies are allowed under certain conditions. If the required quorum is not met, a second meeting will be held on April 22, 2025. Additional details and reports are available on the company's and Dubai Financial Market's websites.
Takaful Emarat Insurance PSC has announced the opening of nominations for its Board of Directors. The nomination period runs from April 9 to April 18, 2025. Eligible individuals or shareholders can apply by submitting an application to the company's management at its Dubai headquarters or via email. The application must include a brief profile and specify the category of membership sought. Two board members will be elected, and candidates must meet specific legal and company requirements. Applications must include necessary documents, and once the nomination period ends, candidates cannot transfer their candidacy. The company will publish the candidates' details on April 27, 2025, and submit the list to relevant authorities.
Takaful Emarat Insurance PJSC's Board of Directors invites shareholders to the company's annual general assembly meeting. The meeting will be held physically at Hassanicore Tower in Dubai and electronically on April 30, 2025, at 2:00 PM. The agenda includes reviewing and approving the Board of Directors' report, the Auditor’s report, the Internal Shariah Supervisory Board’s report, the company's balance sheet, and the profit and loss account for the year ending December 31, 2024. Additionally, the meeting will cover the appointment of members to the Internal Shariah Supervisory Committee and ratification of new Board members who replaced those who resigned. The Board will also recommend not distributing dividends to shareholders and discharge Board members from liability for the year ending December 31, 2024.
The Dubai Financial Market's CEO, Mr. Hamed Ahmed Ali, has been notified that the Board of Directors of Dubai Taxi Company P.J.S.C. will issue a Board Resolution by circulation on April 10, 2025. This resolution will address internal matters related to the company's business operations. The notification was sent by Vicken Khochafian, the Board Secretary and Governance Director, with a copy also sent to the Securities and Commodities Authority.
The document outlines the financial situation of Takaful Emarat – Insurance (PSC) as of April 8, 2025, in accordance with the SCA Board of Directors’ Decision No. (32/R.M.) of 2019. This decision requires companies with accumulated losses of 20% or more of their paid-up capital to comply with specific procedures. For the year 2024, Takaful Emarat reported accumulated losses of AED 43,289,000, representing 20.6% of its paid-up capital. The losses began in 2019 due to higher-than-expected medical claims and lower investment returns, compounded by a merger and acquisition project, asset revaluation, and restated financial statements from 2020 to 2022. To address these losses, the company reduced its accumulated losses by setting off against share capital amounting to AED 124.3 million and issued 185 million ordinary shares through a rights issue in late 2024. This resulted in a positive shift in shareholders' equity from a deficit of AED 39.7 million in 2023 to equity of AED 163.2 million in 2024. The company also implemented a business plan aimed at writing profitable business and adopted new investment strategies, achieving a net investment income of AED 32 million in 2024, a 106% increase from 2023. Furthermore, Takaful revenue grew by 84% to AED 420 million compared to the previous year.
GFH Financial Group announced the purchase of 2,440,000 treasury shares, increasing its total treasury shares from 179,327,200 (4.68% of total issued shares) to 181,767,200 (4.74% of total issued shares) as of April 8, 2025. The board of directors made the purchase decision on March 24, 2025, and the relevant authority approved it on February 16, 2025. The average purchase price was 0.2853 USD per share. The number of shares remaining for potential purchase is 201,492,183. The announcement was made by Mariam Jowhary, Head of Compliance & AML.