Press releases, Reports & Disclosures for ARAMEX PJSC

Aramex PJSC announced an update on the voluntary conditional cash offer from Q Logistics Holding LLC, a subsidiary of Abu Dhabi Developmental Holding Company PJSC (ADQ), to acquire the remaining shares of Aramex not held by Abu Dhabi Ports Company PJSC. The update, received on March 10, 2025, details the results of the offer. Q Logistics will continue accepting shares from Aramex shareholders who did not tender during the offer period until 3:00 PM (UAE time) on March 24, 2025. The final total of tendered shares will be announced on March 28, 2025. Aramex will provide further updates on any significant developments.

The text outlines the requirements for shareholders who wish to delegate someone to attend a General Assembly on their behalf, according to the Corporate Governance Manual. Shareholders can delegate individuals who are not board members, company staff, or employees of securities brokerage companies. The delegated person must not represent more than 5% of the company's issued capital. The power of attorney must be signed by an approved entity such as a Notary Public, commercial chamber, economic department, bank, or licensed company. Shareholders and proxyholders must provide valid identification, and the proxy form should include contact details of the shareholder and the approving brokerage firm. Corporate entities can delegate representatives through a resolution from their Board of Directors, with required documentation. For further questions, contact information is provided.

On Wednesday, February 26, 2025, Aramex PJSC held a board meeting from 6:00 PM to 8:00 PM UAE time. The meeting had a quorum of 88.9% with eight board members present. The discussion focused on the company's business updates and routine matters. The meeting results were documented by Amanda Dahdah, the Governance Officer and Board Secretary for Aramex PJSC.

Aramex PJSC has scheduled a meeting for Wednesday, 26 February 2025, at 6:00 PM UAE Time. The agenda for the meeting includes a discussion of the company's business updates and routine matters. Amanda Dahdah, the Governance Officer and Board Secretary, is the authorized signatory for the meeting notice.

Aramex PJSC announced an update on the voluntary conditional cash offer from Q Logistics Holding LLC, a subsidiary of Abu Dhabi Developmental Holding Company PJSC (ADQ), to acquire up to 100% of Aramex's shares not already owned by Abu Dhabi Ports Company PJSC. On 15 February 2025, Aramex received information from ADQ about the appointment of EFG Hermes UAE Limited, International Securities LLC, and Emirates NBD Capital as co-lead managers for the offer. The details of these appointments are included in an attached letter. The announcement was made by Amanda Dahdah, Governance Officer and Board Secretary of Aramex PJSC.

On February 11, 2025, the Board of Directors of Aramex PJSC met to discuss a voluntary conditional cash offer from Q Logistics Holding LLC to acquire the shares of Aramex not already held by Abu Dhabi Ports Company PJSC. HSBC, serving as Aramex's independent financial advisor, provided a fairness opinion on the offer. The Board resolved to recommend this offer to Aramex's shareholders. A shareholders' circular is enclosed, containing the Board's recommendation and the fairness opinion, in compliance with the Securities and Commodities Authority's rules on acquisitions and mergers.

Aramex reported an 11% year-over-year increase in revenue for both the fourth quarter and full year 2024, reaching AED 6.3 billion and AED 1.7 billion, respectively. This growth was attributed to strong performance across its product lines, including Express, Freight Forwarding, and Logistics. The company's gross profit rose by 3% in Q4 and 6% for the year, with a gross profit margin of 24%. Net profit for the year increased by 10% to AED 142 million. The GCC and MENAT regions showed double-digit growth, while Oceania experienced nearly 50% growth in revenue and gross profitability. Aramex benefited from a trend towards nearshoring, which boosted domestic express and cross-border activity. The company continues to invest in technology and automation to enhance efficiency and value. Aramex maintained a strong financial position with a cash balance of AED 513 million and a debt-to-EBITDA ratio of 2.9x. The devaluation of foreign currencies, particularly the Egyptian pound, impacted financial results. Excluding this impact, full-year revenue was AED 6.4 billion, with a net income of AED 144 million.

On February 11, 2025, Aramex PJSC held a board meeting attended by nine board members. Key decisions included the approval of audited financial results for the fiscal year ending December 31, 2024, and setting the Annual General Assembly for March 20, 2025, pending regulatory approval. The board decided to recommend against distributing dividends for the fiscal year, citing capital allocation priorities for transformation and growth programs. They also discussed a fairness opinion from HSBC regarding Q Logistics Holding LLC's offer to acquire Aramex shares, which was deemed fair and recommended to shareholders. Routine business updates were also discussed.