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ADNOC announced that it will finalize the acquisition of a controlling stake in Fertiglobe, increasing its shareholding to 86.2%. The acquisition of OCI’s 50% + 1 share stake in Fertiglobe has received all necessary approvals and is set to close on October 15, 2024. A block trade will occur on October 11, 2024, and settle on the closing date. Fertiglobe will maintain a 13.8% free float on the ADX. A conference call for investors and analysts is scheduled for October 15, 2024, to discuss the company's future growth and value strategies.

International Holding Company PJSC (IHC) has issued a notice to warn the public about scams using the company's name, employee names, and logo to promote fraudulent investment opportunities and tenders. These scams ask individuals or entities for personal, business, and financial information, as well as credit card or bank details. IHC emphasizes that it will never request such information or payments through email or other means. If you receive such a request, treat it with caution and do not provide any sensitive information. To verify the legitimacy of communications, ensure they come from an "@ihcuae.com" domain. IHC advises staying informed about its latest news via its official website or through regular news and disclosures on ADX.

du, a leading Telecom and Digital Services Provider in Dubai, has revamped its Business-to-Business (B2B) portfolio to enhance digital capabilities for businesses across the UAE. The company introduced two new sub-brands, du Tech and du Infra, as part of its digital transformation strategy. du Tech focuses on advanced ICT solutions, targeting sectors like government and large enterprises with services such as data centers, hybrid cloud, cybersecurity, IoT, AI, and blockchain. du Infra provides robust network infrastructure, ensuring secure and efficient data flow for businesses and government agencies. The CEO of du, Fahad Al Hassawi, emphasized the company's evolution from a connectivity provider to an integrated digital services enabler, aiming to lead the digital transformation in the UAE. The new portfolio is designed to foster innovation and create dynamic digital ecosystems, allowing customers to shape their own digital futures.

Taaleem Holdings PJSC invites its shareholders to attend the Annual General Assembly Meeting on November 5, 2024, at Dubai British School, Jumeira, Dubai, UAE, with the option to join electronically. The agenda includes reviewing and approving the Board of Directors' report on the company's activities and financial position, the auditor's report, and the balance sheet and profit and loss statements for the fiscal year ending August 31, 2024. The meeting will also consider approving a cash dividend of AED 120 million, the Board's remuneration of AED 5.25 million, discharging or dismissing Board members and external auditors from liability, and appointing external auditors for the fiscal year ending August 31, 2025, along with determining their remuneration.

Sukoon Insurance PJSC, regulated by the Central Bank of the UAE, has announced a resolution passed by its Board of Directors on October 10, 2024. The resolution includes the approval of the sale of certain lands owned by the company and authorizes the CEO and/or CFO to negotiate and execute the necessary documents. The announcement was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and a copy was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

Dubai Islamic Bank (DIB) has issued a USD 500 million Additional Tier 1 Sukuk with a profit rate of 5.25% per annum. This Basel III-compliant Sukuk aims to enhance DIB's capital adequacy ratio and optimize its balance sheet. The issuance attracted a diverse group of investors, including banks and fund managers from Europe, Asia, and the Middle East. The transaction achieved a reset spread of 133.4 basis points over the US Treasury rate, marking the lowest for an AT1 instrument globally since the 2009 financial crisis. High investor interest allowed DIB to adjust the pricing from an initial 5.75% to 5.25%. Dr. Adnan Chilwan, DIB's Group CEO, expressed satisfaction with the transaction, noting it as the lowest yield achieved by an Emerging Markets Bank since April 2022. The Sukuk will be listed on Euronext Dublin and NASDAQ Dubai, and DIB holds credit ratings of A3 Stable from Moody's and A Stable from Fitch.