ADNOC Drilling Company PJSC

ADNOC Drilling Company PJSC held its General Assembly Meeting on Monday, June 24, 2024, at 3 p.m. UAE time, both in-person at their Abu Dhabi location and virtually. Shareholders representing 82.97% of the company's share capital attended. The meeting aimed to discuss and resolve agenda items. Mr. Ahmed Al Raesi attended as a representative of the Securities and Commodities Authority. The meeting was chaired by Mr. Abdulmunim Saif Al Kindy, Vice Chairman of the Board, who confirmed the quorum and welcomed attendees. Mr. Ahmad Ma’abreh was appointed Secretary, and First Abu Dhabi Bank and Lumi were designated as vote collectors. The Secretary then presented the meeting agenda.

On 2 August 2024, the Board of Directors of ADNOC Drilling Company PJSC held a meeting via video conference at 3:00 p.m. During the meeting, the Board approved the company's financial statements for the second quarter of the 2024 financial year. Additionally, the Board approved the distribution of interim cash dividends to shareholders for the first half of 2024, totaling USD 394,143,750 (equivalent to AED 1,447,492,922), which translates to approximately 9.0468 fils per share. Key dates include the last day to purchase shares on 8 August 2024, the ex-dividend date on 9 August 2024, the shareholders’ registry closing date on 12 August 2024, and the payment date within 30 days from 2 August 2024. All parties have agreed to sign the document electronically.

ADNOC Drilling Company P.J.S.C. has released a review report and condensed consolidated financial information for the six-month period ending on June 30, 2024.

Enersol has signed an agreement to acquire a 100% equity stake in EV Holdings for $45 million. EV Holdings is a global provider of vision-based diagnostics and analytical services in the oil and gas sector. This acquisition aligns with Enersol's strategy to become a technology-centric investment platform. This marks Enersol's third acquisition, bringing its total commitments to approximately $550 million. The transaction is subject to regulatory approvals and closing adjustments. EV Holdings operates in 36 countries, including the UAE and Saudi Arabia, and offers well diagnostics services to address complex wellbore issues.

On 2 August 2024, the Board of Directors of ADNOC Drilling Company PJSC held a meeting via video conference at 3:00 p.m. During this meeting, the Board approved the company's financial statements for the second quarter of the financial year 2024. Additionally, they approved the distribution of interim cash dividends to shareholders for the first half of 2024, amounting to USD 394,143,750 (equivalent to AED 1,447,492,922), which translates to approximately 9.0468 fils per share. Key dates include the last entitlement date on 8 August 2024, the ex-dividend date on 9 August 2024, the shareholders' registry closing date on 12 August 2024, and the payment date within 30 days from 2 August 2024. All parties agreed to sign the document electronically.

The Board of Directors of ADNOC Drilling Company PJSC will hold a meeting on Friday, 2 August 2024, at 3:00 p.m. via video conference. The agenda includes discussing and approving the company's financial statements for the second quarter of the financial year 2024, as well as other general matters related to the company's activities and projects. The notification is addressed to the Market Operations and Surveillance section of the Abu Dhabi Securities Exchange and is signed by Abdulrahman Abdulla Al Seiari, the Chief Executive Officer. A copy of the notification has also been sent to the Securities and Commodities Authority.

ADNOC Drilling Company has appointed Al Ramz Capital, a licensed financial institution and market maker, as a liquidity provider for its shares listed on the Abu Dhabi Securities Exchange (ADX). The one-year agreement stipulates that Al Ramz Capital will independently trade the company's shares and provide liquidity by offering simultaneous buy and sell orders in accordance with ADX and Securities and Commodities Authority regulations. This appointment aims to enhance liquidity and trading efficiency for the company's shareholders.

Enersol has signed an agreement to acquire a 51% equity stake in NTS AMEGA for $581 million. NTS AMEGA, a global manufacturer of advanced precision equipment for the energy sector, will benefit ADNOC Drilling through Enersol’s AI, digitization, and advanced technology. This acquisition marks Enersol’s second and reflects its commitment to becoming a technology-centric investment platform. The transaction is subject to regulatory approvals and closing adjustments. NTS AMEGA, headquartered in the UAE, operates globally and reported strong financials in FY2023, with revenue exceeding $120 million and a robust EBITDA margin.