Latest Threads

The CEO of Easy Lease Motorcycle Rental PJSC, Ahmad Mohammad Al Sadah, has announced that the company has acquired a 60% stake in United Trans, a leading provider of rail solutions and transportation technologies. This acquisition is part of Easy Lease's strategic focus on the mobility sector, particularly railway services, to drive innovation and efficiency across all facets of mobility services. The partnership is expected to open new avenues for growth both domestically and internationally, reinforcing Easy Lease's position in the industry.

Takaful Emarat Insurance PJSC held a board meeting on Friday, 5th April 2024 at 10:30am. The agenda included the ratification of the previous Board of Directors meeting minutes, discussion and approval of the audited financial statement for 2023 (subject to approval from the Central Bank of the UAE), determination of the date and agenda for the General Assembly, discussion on increasing the company's share capital, updates on the insurance business, and other business matters. The meeting was authorized by Board Secretary, Rayan Omer.

Resolution No. 355 of 2024 announces the temporary suspension of trading on the shares of Sharjah Insurance Company. This is due to the company's AGM being held at 11:00 on the 29th of April, 2024, which coincides with the trading session at ADX. As a result, trading will be suspended from 09:00 on the same day until ADX receives the AGM results. All heads of departments in ADX are required to execute this resolution in their respective fields. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 02/04/2024.

Salik Company PJSC, the exclusive toll gate operator in Dubai, has concluded its Annual General Meeting (AGM), approving the distribution of AED 550 million in cash dividends, equivalent to 7.3338 fils per share. This represents 100% of the net profit for the second half of 2023. The total cash dividends for 2023 amounted to AED 1,097,962,219, or 14.6395 fils per share, which is approximately 100% of the distributable net profit for 2023. The AGM also approved various Special Resolutions, including amendments to the company's Articles of Association and Corporate Social Responsibilities policy. The company reported a record total revenue of AED 2.1 billion in 2023, an increase of 11.4% YoY.

On April 2, 2024, the CEO of Dubai Financial Market, Mr. Hamed Ahmed Ali, received a letter detailing the results of Salik Company PJSC's Annual General Meeting. The meeting was held on April 4, 2024, both remotely and physically at the InterContinental Dubai Festival City hotel. The total attendance quorum reached 76.44%, with 0.01% being authentic attendance and 76.43% being proxy attendance. The meeting approved the appointment of Dr. Fady Kayyal as the meeting secretary and Lumi as vote collectors. The Board of Directors' report on the company’s activity and financial position for the fiscal year ending December 31, 2023, along with the auditor’s report and the company’s balance sheet for the same period, were approved. The board's proposal to distribute cash dividends of AED 550,035,000, representing 100% of the distributable net profit for the second half of the fiscal year, was considered. The dividend payment date is set for April 22, 2024.