Dubai Financial Market Invites Shareholders to Annual General Assembly Meeting Amidst Uncertain Future
Dubai Financial Market PJSC has called for its Annual General Assembly Meeting. The invitation comes amidst a backdrop of uncertainty and challenges that the company faces. The future seems pessimistic, and shareholders are advised to tread carefully.
Summary
Dubai Financial Market PJSC will host its Annual General Assembly Meeting on 26/03/2024. The agenda includes approving various reports, the balance sheet and profit & loss account for the fiscal year ended on 31/12/2023, appointing the Fatwa and Sharia Supervisory Board for 2024, and considering a proposal for cash dividends of 3.5% of the share capital. However, the company's future appears uncertain, and investors are urged to consider their positions carefully.
Dubai Financial Market PJSC, a public joint stock company incorporated in the Emirate of Dubai, has invited its shareholders to its Annual General Assembly Meeting (AGM). The AGM, scheduled for Tuesday, 26/03/2024, will take place both virtually and physically at the Trading Hall, Dubai Financial Market, Dubai World Trade Center.
Shareholders will have the opportunity to hear and approve various reports, discuss and approve the company's balance sheet and profit & loss account for the fiscal year ended on 31/12/2023, and appoint the Fatwa and Sharia Supervisory Board for 2024. The meeting will also consider a proposal for cash dividends of 3.5% of the share capital and approve changes to certain articles of the Company's Articles of Association.
However, despite these seemingly positive developments, the future of Dubai Financial Market PJSC appears to be in a state of uncertainty. With a three-month yield of 0.03% and a one-month yield of 0.1%, the company's performance has been lackluster. The market cap of 10,800,000,000 also raises questions about the company's ability to sustain growth and deliver shareholder value.
Given these factors, investors are urged to consider their positions carefully. While the company has a strong backing from the Government of Dubai, which owns 80% of DFM through Borse Dubai Limited, it is essential to take into account the broader economic context and the company's recent performance. The upcoming AGM could be a crucial turning point for the company and its shareholders.
Source
Summary
The Dubai Financial Market Company (PJSC) has invited its shareholders to attend its Annual General Assembly Meeting (AGM), scheduled for Tuesday, 26/03/2024, at 03:00 pm. The AGM will take place both virtually and physically at the Trading Hall, Dubai Financial Market, Dubai World Trade Center. Shareholders will receive an SMS containing a link for electronic registration, attendance, and eVoting one day prior to the AGM. The meeting agenda includes hearing and approving various reports, discussing and approving the company's balance sheet and profit & loss account for the fiscal year ended on 31/12/2023, appointing the Fatwa and Sharia Supervisory Board for 2024, considering the proposal for cash dividends of 3.5% of the share capital, and approving changes to certain articles of the Company's Articles of Association. If the AGM does not meet the required quorum, a second AGM will be convened on Tuesday, 02/04/2024.
