Press releases, Reports & Disclosures for Amlak Finance P.J.S.C

On December 29, 2023, the Board of Directors of Amlak Finance PJSC passed a resolution concerning regular and internal matters. This information was communicated to Mr. Hamed Ahmed Ali, the Chief Executive Officer of Dubai Financial Market. The communication was also forwarded to the Securities & Commodities Authority.

On 26th December 2023, a letter was sent to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, from Lama Takieddin, the Head of Corporate Governance and Company Secretary of Amlak Finance PJSC. The letter notifies Mr. Ali that the board of directors of Amlak Finance PJSC will consider a resolution concerning regular and internal matters on 29th December 2023 at 3 pm. A copy of the letter was also sent to the Securities & Commodities Authority.

The listed company Amlak Finance has scheduled a meeting on Wednesday, 13 December 2023, starting at 3:00 PM. The agenda of the meeting includes normal business activities and updates. The authorized signatory for the meeting is Lama Takieddin, who holds the position of Head of Corporate Governance & Company Secretary.

On November 20, 2023, Amlak Finance informed the Dubai Financial Market that it has made progress in its efforts to exit the Common Terms Agreement. Since the beginning of 2023, the company has successfully settled with seven financiers, reducing its debts by AED 531 million and achieving gains of AED 174 million. Negotiations are ongoing with the remaining eight financiers, who hold a total of AED 1.6 billion in facilities. Amlak is also considering all options to strengthen its position and achieve further growth, including exiting the real estate financing sector. The company commits to disclose the outcome of the negotiations and any material developments, in line with regulatory requirements and best disclosure practices.