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SHUAA Capital Saudi Arabia and Gate Capital Financial Services have signed a Memorandum of Understanding to launch an alternative investment fund aimed at consolidating the fuel retail sector in Saudi Arabia. This initiative intends to create a leading national fuel retail operator with over 500 service stations across the country. The Saudi fuel retail sector is currently evolving due to regulatory improvements by the Ministry of Energy, which are enhancing operational, safety, and service standards. SHUAA Capital and Gate Capital plan to leverage this transformation through a "buy-and-build" strategy, starting with the acquisition of an established fuel retail operator and expanding by integrating additional operators. This effort aligns with Saudi Arabia's Vision 2030 goals to modernize infrastructure and enhance service delivery, while also focusing on shareholder returns. The CEOs of both companies expressed confidence in the partnership's potential to capitalize on the growing market and deliver strong returns.
The Board of Directors of Orient Insurance (PJSC) invites shareholders to attend the Annual General Assembly Meeting on April 14, 2026, at 11:00 AM. The meeting will be held both physically at the Orient building in Dubai and online via the Teams platform. The agenda includes reviewing and approving the Directors' and Auditors' reports for the financial year ending December 31, 2025, discussing and approving the company's financial statements and governance reports, considering a proposal for a 100% cash dividend distribution amounting to 500 million AED, discharging the Board and Auditors from liability for the past financial year, approving Board and executive remuneration for 2025, approving transactions with related parties, and appointing an auditor for 2026 with determined fees. Shareholders may delegate others to attend on their behalf with certain limitations on proxy representation.
The Board of Directors of National General Insurance Company (PJSC) invites shareholders to the Annual General Assembly Meeting on Tuesday, April 14, 2026, at 3:00 PM at Millennium Place Mirdif Hotel Dubai and electronically. The agenda includes authorizing the chairman to appoint a secretary and vote collector, reviewing and approving reports on the company's activities, financial position, and auditor's report for the fiscal year ending December 31, 2025, discussing and approving the balance sheet and profit and loss account, reviewing dividend distribution proposals, approving Board remuneration, discharging or filing lawsuits against the Board and auditors, appointing auditors for 2026, and disclosing related party transactions for 2025. Special decisions include approving a voluntary contribution of up to 0.5% of net profits for corporate social responsibility in 2026. Shareholders can delegate representatives to attend and vote on their behalf, with certain restrictions.