Ithmaar Holding B.S.C

Ithmaar Holding B.S.C. has announced ongoing discussions with GFH Financial Group B.S.C. regarding GFH's potential acquisition of Ithmaar's financing and investment portfolios. The negotiations are subject to regulatory approvals, and shareholders will be regularly updated on any further developments.

Ithmaar Holding B.S.C. announced that its Board of Directors will review and approve the financial results for the period ended 30 September 2024 on Wednesday, 13 November 2024, at 1:00 PM. This announcement is addressed to Bahrain Bourse and Dubai Financial Market.

Ithmaar Holding B.S.C. has announced that discussions and negotiations are ongoing with GFH Financial Group B.S.C. regarding GFH's potential acquisition of Ithmaar’s financing and investment portfolios. This acquisition is subject to regulatory approvals. Shareholders will be regularly updated on any further developments.

ITHMAAR HOLDING B.S.C. has released its condensed consolidated interim financial information for the period ending on 30 June 2024.

This document has been prepared in accordance with the disclosure requirements of the SCA Board of Directors’ Decision No. (32/R.M.) of 2019, concerning procedures for companies listed on the market with accumulated losses amounting to 20% or more of their paid-up capital. Companies must comply with the decision's provisions when accumulated losses reach 50% or more of their paid-up capital. Date: 13 August 2024 Listed Company: Ithmaar Holding B.S.C. Financial Period: Q2 2024 Value of Accumulated Losses: USD 834.67 million Accumulated Losses to Paid-Up Capital Ratio: 110% The accumulated losses before reorganization were 68.8% in December 2016, mainly due to impairment provisions from non-core investments resulting from financial crises. In 2018, early adoption of FAS30 (AAOIFI equivalent of IFRS9) led to additional impairment provisions, increasing the accumulated losses percentage to 98%. In 2020, accumulated losses rose by $87.5 million due to the economic impact of Covid-19. In 2021, losses decreased by $35.0 million due to net income attributable to shareholders. In 2022, losses increased by $29.9 million due to net losses attributable to shareholders. In 2023, losses increased by $9.3 million for the same reason. In 2024, losses decreased by $3.4 million due to net profit attributable to shareholders. The Board of Directors is currently working on various initiatives to address the accumulated losses, including an asset sale and/or restructuring plan to improve capital and strengthen the company’s consolidated equity.

Ithmaar Holding B.S.C. announced that its Board of Directors held a meeting on Tuesday, August 13, 2024, at 1 PM, during which the financial results for the period ending June 30, 2024, were approved.

Ithmaar Holding B.S.C. has announced that its Board of Directors will review and approve the financial results for the period ended 30 June 2024 on Tuesday, 13 August 2024, at 1:00 PM. This announcement is directed to Bahrain Bourse and Dubai Financial Market.

عقدت شركة الإثمار القابضة ش.م.ب اجتماع الجمعية العامة غير العادية لمساهميها يوم الأربعاء 29 مايو 2024 في قاعة نوبل للاجتماعات بفندق وستين ستي سنتر البحرين. حضر الاجتماع عدد من المساهمين وأعضاء مجلس الإدارة، بالإضافة إلى ممثلين من مصرف البحرين المركزي، وزارة الصناعة والتجارة، بورصة البحرين، ومدققين خارجيين من شركة كي بي إم جي. ترأس الاجتماع صاحب السمو الملكي الأمير عمرو بن محمد الفيصل آل سعود، الذي رحب بالحضور واقترح تعيين السيد علي أحمد محمد كأمين سر الاجتماع، وهو ما وافق عليه الحضور. أكد الرئيس نشر الدعوة وجدول الأعمال بتاريخ 7 مايو 2024 وفقًا لمتطلبات قانون الشركات التجارية رقم (21) لسنة 2001 وتعديلاته.

Ithmaar Holding B.S.C. has announced the appointment of Mr. Maysan Faisal Almaskati as the new Chief Executive Officer of Ithmaar Holding and its two wholly-owned subsidiaries, Ithmaar Bank and IB Capital. This appointment has received approval from the Central Bank of Bahrain. Prior to this role, Mr. Almaskati served as Assistant General Manager of the Business Banking Group at Ithmaar Bank and has over 24 years of experience in investment and banking.