Tabreed Clarifies Media Reports on Future Expansion Plans
National Central Cooling Co. (Tabreed) addresses recent media reports about its CEO's statements on future market expansion.
Summary
Tabreed clarifies that recent media reports misinterpreted its CEO's statements about future market expansion. The company remains committed to exploring promising investment opportunities while adhering to transparency requirements.
In a recent press release dated September 18, 2024, National Central Cooling Co. (Tabreed) addressed media reports that inaccurately quoted its CEO regarding the company's future expansion plans. The company clarified that the statements attributed to the CEO were hypothetical and not indicative of any finalized decisions.
Tabreed, a UAE-based utility company specializing in energy-efficient district cooling solutions, emphasized that it continually explores promising investment opportunities. Although headquartered in the UAE, Tabreed operates in four GCC countries, India, and Egypt, and remains focused on long-term value creation for its shareholders.
The press release reiterated Tabreed's commitment to transparency and compliance with the disclosure requirements of the Securities and Commodities Authority and the Dubai Financial Market. The company assured stakeholders that all material transactions would be disclosed once they reach final stages.
Given Tabreed's strong market position, ongoing exploration of growth opportunities, and adherence to regulatory requirements, investors may find it prudent to hold their positions in the company. The commitment to long-term value creation and strategic market presence suggests a positive outlook for the future.
For further information, stakeholders are encouraged to contact the company directly.
Source
Summary
Sean Magee, Board Secretary, addressed a letter dated 18 September 2024 to H.E Dr. Maryam Buti Al Suwaidi, CEO of the Securities & Commodities Authority, and H.E Hamed Ali, CEO of the Dubai Financial Market. The letter clarifies recent media reports about statements attributed to Tabreed's CEO regarding future expansion into new markets. The company states that these quotes were inaccurate and that the CEO was speaking hypothetically about growth aspirations rather than concrete plans. Tabreed is focused on exploring promising investment opportunities to create long-term value for shareholders and operates in the UAE, four GCC countries, India, and Egypt. The company reaffirms its commitment to transparency and disclosure requirements and will disclose material information to the market once finalized. For further information, recipients are invited to contact the company.
