Takaful Emarat (PSC)

Ticker/ISIN

TAKAFUL-EM

AET000201011

Market/Country

Dubai Financial Market

United Arab Emirates

About Takaful Emarat (PSC)

Country of Origin: United Arab Emirates (U.A.E)

Takaful Emarat – Insurance (PJSC) – Dubai – United Arab Emirates (hereinafter referred to as the “Company”) incorporated as a public joint stock company in accordance with the U.A.E. Federal Law No. 8 of 1984 (as amended) and with U.A.E. Federal Law No. 6 of 2007 with the matter of establishing Insurance Authority and organizing its working in United Arab Emirates.

The company carries out Takaful Insurance Activities in Health Insurance and Life Insurance and Credit & Saving Insurance in accordance with the Islamic Sharia’a and within the provisions of the Articles of Association of the company.

Latest Pressrelease Summaries from Takaful Emarat (PSC)

Takaful Emarat Insurance PJSC has announced the completion of its restructuring process, which included a capital increase and the write-off of accumulated losses from previous years. The company now has a strong and stable financial position, which will be reflected in its 2024 financial reports. According to the published quarterly financial statements, the company continues to operate efficiently in line with its strategic plans. Takaful Emarat reaffirms its commitment to disclosing any material information that may affect stock movement, in accordance with UAE regulations. For further inquiries, investors can contact the investor relations department via email at investor.relations@takafulemarat.com.

Disclosure: Notification from the company

a day ago

Takaful Emarat – Insurance PJSC has successfully completed a capital increase of AED 185 million through a rights issue offered to existing investors, raising the company's total capital to AED 210,652,000. This achievement reflects the trust and confidence of shareholders and the market in the company's management and strategic direction. The company acknowledged the support of stakeholders, including IBRAHIM .N. PARTNERS, First Abu Dhabi Bank PJSC, the Central Bank of the UAE, the Securities and Commodities Authority, and the Dubai Financial Market, for their roles in facilitating the transaction. Earlier in the year, Takaful Emarat's Board of Directors took measures to write off accumulated losses, setting the stage for sustainable growth. The company is committed to operational improvements, transparency, and adding value for shareholders and customers, with positive impacts expected in future financial reports. With a strengthened capital base, Takaful Emarat is positioned to expand its market presence and innovate within the Takaful insurance sector. The company expressed gratitude to the UAE government for its supportive business environment, contributing to its growth and success.

Disclosure: Press release - Takaful Emarat successfully completed Capital Increase

6 days ago

On December 5, 2024, Takaful Emarat Insurance PSC announced the resignation of Saqr Kamal from its Board of Directors. Kamal, an independent and non-executive member, resigned for personal reasons. The resignation was accepted and became effective on November 22, 2024. The announcement was authorized by Adnan Saba Elaish, the Finance Director, and was documented with the company's seal.

Disclosure: Resignation of BOD member

14 days ago

Takaful Emarat Insurance PJSC announced that it has received approval from the Securities and Commodities Authority (SCA) to extend the subscription period for increasing the company's issued share capital by up to AED 185,000,000 through a rights issue at AED 1.00 per new share. Important dates related to this capital increase include the subscription closing date on Friday, December 6, 2024, the date of allocation on Wednesday, December 11, 2024, the refund date on or around Friday, December 13, 2024, and the commencement of trading in the new shares on Monday, December 16, 2024. For further inquiries, investors can contact the investor relations department via the provided email.

Disclosure: Notification from the company regarding the extension of the subscription period

24 days ago

The Board of Directors meeting for Takaful Emarat Insurance PSC took place on Wednesday, 13 November 2024, from 4:00 PM to 4:30 PM. Four board members were present, achieving a quorum of 57%. During the meeting, the board approved the company's unaudited financial statements for the nine-month period ending 30 September 2024 and discussed other matters. The meeting's decisions were documented and signed by Mohammed Abu Quora, the Chief Executive Officer, on 14 November 2024.

Disclosure: Results of BOD Meeting

a month ago

The text is a formal announcement about a board meeting for Takaful Emarat Insurance PSC, scheduled for Wednesday, November 13, 2024, at 4:00 PM. The meeting will focus on reviewing and approving the company's unaudited interim condensed consolidated financial statements for the third quarter ending September 30, 2024, as well as discussing business updates and other matters. The document is signed by Mohammed Abu Quora, the Chief Executive Officer, and includes the company's seal.

Disclosure: BOD meeting

a month ago

Takaful Emarat Insurance has announced an adjustment in its share price on the Dubai Financial Market (DFM) following an increase in the company's issued share capital by up to AED 185,000,000 through a rights issue at AED 1.00 per new share. This adjustment aims to maintain balance, transparency, and equality among shareholders who bought shares before and after the record date for the rights issue. The adjustment also recalibrates the market value of the shares due to the increased number of shares, ensuring the company's market capitalization is appropriately distributed.

Disclosure: Explanatory Disclosure Regarding the Share Price Adjustment

2 months ago

Takaful Emarat Insurance PJSC is inviting its shareholders to participate in a rights issue to subscribe for up to 185,000,000 new shares. This decision, approved by the company's General Assembly and the Securities and Commodities Authority, will increase the company's capital from AED 25,652,000 to AED 210,652,000. The new shares, each with a nominal and issue price of AED 1, will be offered on a pro-rata basis to existing shareholders. The rights issue aims to support the company’s expansion plans, enhance its technological infrastructure, and optimize operational efficiencies. The subscription period for these new shares will run from November 14 to November 26, 2024, with trading of rights on the Dubai Financial Market from November 11 to November 22, 2024. Shareholders can trade their rights or subscribe for additional shares if available. The subscription process will be managed by First Abu Dhabi Bank, which will also handle any refunds for unallocated shares. The new shares will be listed on the Dubai Financial Market and will carry the same rights as existing shares, including dividend entitlements. Key dates include the eligibility date for rights on November 1, 2024, and the commencement of dealings in new shares on December 9, 2024. Shareholders are reminded that rights not sold or used by the end of the subscription period will lose their value.

Disclosure: Invitation to the shareholders to subscribe for Capital Increase

2 months ago

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Dubai Financial Market News

News Update From Takaful Emarat (PSC) 2 months ago

Disclosure: Notification from the company regarding capital reduction

1. Attached Document

Dubai Financial Market News

News Update From Takaful Emarat (PSC) 2 months ago

Disclosure: BOD meeting

1. Attached Document

Dubai Financial Market News

News Update From Takaful Emarat (PSC) 3 months ago

Disclosure: Resignation of the Chief Operating Officer

1. Attached Document

Dubai Financial Market News

News Update From Takaful Emarat (PSC) 3 months ago

Disclosure: Resignation of BOD member

On April 9, 2024, Takaful Emarat Insurance PSC announced the resignation of Mr. Omar Al Romaithi, an independent, non-executive board member, due to personal reasons. The resignation was accepted and became effective on the same date. The announcement was authorized by Mohammed Abu Quora, the Chief Executive Officer, and was signed and sealed on April 9, 2024.

1. Attached Document

Dubai Financial Market News

News Update From Takaful Emarat (PSC) 3 months ago

Disclosure: Results of BOD Meeting

1. Attached Document

Dubai Financial Market News

News Update From Takaful Emarat (PSC) 4 months ago

Disclosure: BOD meeting

Takaful Emarat Insurance PSC has scheduled a board meeting on Wednesday, 04 September 2024, at 3:00 PM via MS Teams. The agenda includes the approval of a new Board member, the appointment of the Board Chairperson, and discussion of business updates and other matters. The notice is signed by Mohammed Abu Quora, Chief Executive Officer, on 30 August 2024.

1. Attached Document

Dubai Financial Market News

News Update From Takaful Emarat (PSC) 4 months ago

Disclosure: Resignation of BOD member

On August 14, 2024, Takaful Emarat Insurance PSC announced the resignation of Ms. Fatma Hussain, an independent and non-executive board member, effective from August 13, 2024. The resignation was due to personal reasons. The announcement was authorized by Mohammed Abu Quora, the Chief Executive Officer, and was signed and dated on August 14, 2024.

1. Attached Document

Dubai Financial Market News

News Update From Takaful Emarat (PSC) 4 months ago

Disclosure: Financial statements for the 2n QTR of 2024

1. Attached Document

Dubai Financial Market News

News Update From Takaful Emarat (PSC) 4 months ago

Disclosure: Results of Board Decisions by Passing

On 13 August 2024, the Board approved two matters by circulation: the appointment of Dr. Noor Aldeen Atatreh to fill a vacant Board position, pending approval from the Central Bank of UAE and ratification at the next General Assembly meeting, and the approval of the company's unaudited interim condensed consolidated financial statements for the second quarter and the six months ending 30 June 2024.

1. Attached Document

Dubai Financial Market News

News Update From Takaful Emarat (PSC) 4 months ago

Disclosure: BOD meeting

On August 9, 2024, a disclosure was made regarding a board meeting for Takaful Emarat Insurance PSC, scheduled for Tuesday, August 13, 2024, at 12:30 PM via MS Teams. The agenda includes the approval of a new Board member to replace Mr. Saeed Al Sharid, the review and approval of the company's unaudited interim condensed consolidated financial statements for the second quarter and the six months ending June 30, 2024, and a discussion on business updates. The disclosure was signed by Mohammed Abu Quora, the Chief Executive Officer, on August 9, 2024, and includes the company’s seal.

1. Attached Document

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