Amlak Finance Sells Investment Unit in Strategic Move
Amlak Finance P.J.S.C has announced the sale of an investment unit in Dubai, aligning with its strategic goals and regulatory compliance.
Summary
Amlak Finance P.J.S.C has sold an investment unit in Dubai, representing 0.04% of the company's capital. The transaction complies with UAE Central Bank regulations and aligns with the company's sales policies.
Amlak Finance P.J.S.C, a leading finance company in the United Arab Emirates, recently announced the sale of an investment unit in Dubai. The transaction, which represents 0.04% of the company's capital, is in line with Amlak's strategic goals and regulatory requirements.
The deal, structured with a down payment and a three-year installment plan, is noteworthy for its adherence to Amlak's approved policies and strategies. According to the press release, the sale was executed without any deviations, ensuring that it aligns perfectly with the company's objectives and benefits its shareholders.
The transaction also complies with UAE Central Bank regulation No 112-2018, which mandates the disposal of foreclosed units within three years of acquisition. This regulatory compliance underscores Amlak's commitment to operating within the legal frameworks set by the UAE authorities.
The evaluation of the investment unit was conducted by two accredited valuers, British Arabian and Colliers, ensuring a fair and reasonable deal. Lama Takieddin, Head of Corporate Governance and Company Secretary, confirmed that the terms of the deal are favorable and in the best interest of the company's shareholders.
Given the strategic alignment and regulatory compliance of this transaction, we recommend holding Amlak Finance shares. The company's proactive approach to asset management and adherence to regulatory requirements reflect a stable and promising future for investors.
Source
Summary
On September 18, 2024, Amlak Finance PJSC announced the sale of an investment unit in Dubai to an Amlak employee. The transaction, representing 0.04% of the company's capital, involves a down payment and a three-year installment plan. There are no deviations from approved policies, and the sale complies with UAE Central Bank regulation No 112-2018, which requires the disposal of foreclosed units within three years of acquisition. The unit's evaluation was conducted by "British Arabian" and "Colliers." Amlak Finance PJSC confirms that the deal's terms are fair, reasonable, and in the interest of the company's shareholders. The announcement was authorized by Lama Takieddin, Head of Corporate Governance and Company Secretary.
