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On May 29, 2024, the Abu Dhabi National Company for Building Materials (BILDCO) held its third board meeting of the year. The following decisions were made: 1. Approval of the minutes from the second board meeting of 2024. 2. Approval of a settlement agreement with First Abu Dhabi Bank concerning debt restructuring and waiver of lawsuits. 3. Approval of a settlement agreement with Abu Dhabi Ports regarding the payment of a debit balance after a 57% discount, debt restructuring, and waiver of lawsuits. 4. Approval to convene a General Assembly in the first week of July 2024 to approve the settlement with First Abu Dhabi Bank, with the Executive Management authorized to set the date after obtaining necessary approvals. The meeting was held at 14:00 PM on May 29, 2024.
**Al Ansari Financial Services Warns Public of Impersonation Scam** **Dubai, UAE – 30 May 2024:** Al Ansari Financial Services PJSC (DFM: ALANSARI) has alerted the public about unlicensed firms impersonating the Group or its subsidiary, Al Ansari Exchange, to promote fraudulent "high-return" investment schemes. These scams, often found on social media, misuse the Group's name and logo to gain trust. Al Ansari Financial Services emphasizes that its shares are traded only on the Dubai Financial Market (DFM) through licensed brokers and does not solicit investments via social media or unauthorized channels. **Protective Measures:** - **Invest with licensed firms:** Verify licenses with the Securities and Commodities Authority (SCA) or DFM. - **Beware of high-return promises:** High returns with no risk are typically scams. - **Conduct independent research:** Investigate firms thoroughly before investing. - **Verify identity:** Contact Al Ansari Financial Services directly if uncertain about a firm's legitimacy. - **Report suspicious activity:** Notify authorities of any suspected impersonation. Al Ansari Financial Services is dedicated to promoting financial literacy and educating the public about investment scams. For more information, visit their website or contact them directly.
Dubai Electricity and Water Authority PJSC (DEWA) announced that Moody's has upgraded its long-term issuer rating from Baa2 to A3 with a stable outlook. This upgrade reflects positive macroeconomic trends in Dubai, DEWA's strong market position, robust asset base, favorable tariff structure, and strong liquidity profile. DEWA's leadership attributed the upgrade to the visionary guidance of Dubai's leaders. The improved rating is expected to enhance DEWA's financial and operational performance, ensuring consistent dividends for shareholders. According to DEWA's dividend policy, the company plans to pay a minimum annual dividend of AED 6.2 billion for the first five years starting October 2022.
GFH Financial Group announced the purchase of 11,949,000 of its own shares (treasury shares), increasing its total treasury shares from 187,914,664 (4.90% of total issued shares) to 199,863,664 (5.21% of total issued shares) as of May 30, 2024. The decision was made by the company's board on March 24, 2024, and approved by the authority on May 29, 2024. The average purchase price was 0.2989 USD per share, and the percentage of shares purchased from the issued capital was 0.312%. The remaining shares available for purchase are 183,395,719. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.