Abu Dhabi Ports Company PJSC

The document provides a review report and summarized consolidated financial information for Abu Dhabi Ports Company PJSC. The data covers the first three months of the fiscal year, ending on 31 March 2024.

On 13th May 2024, the Board of Directors of Abu Dhabi Ports Company PJSC held a meeting via video conference. They approved the company's financial statements for the first quarter of the financial year 2024. The Board also discussed recent developments related to the company's activities and projects. The meeting was communicated by Emil Pellicer, the General Counsel, to the Disclosure & Compliance Section of the Market Operations & Surveillance at Abu Dhabi Securities Exchange.

The Board of Directors of Abu Dhabi Ports Company PJSC (Company) will hold a meeting via video conference at 5 p.m. on Monday 13 May 2024. The main points of discussion will be to consider and approve the Company’s financial statements for the first quarter of the current financial year 2024 and general matters relating to the activities of the Company and its projects. The information is disclosed by the Disclosure & Compliance Section of the Market Operations & Surveillance of the Abu Dhabi Securities Exchange.

AD Ports Group has signed a series of agreements with Unicargas, Multiparques, and the Luanda Port Authority to operate and upgrade the Luanda multipurpose port terminal in Angola for the next 20 years, with a possible 10-year extension. The Group has acquired an 81% stake in a joint venture to operate the terminal and a 90% stake in another to serve the facility and the wider Angolan logistics market. The company has committed to investing $251 million by 2026 to modernise the terminal and develop the logistics business, with the potential for this to increase to $379 million over the concession term. The Port of Luanda handles over 76% of Angola’s container and general cargo volumes and is poised for growth.

The Abu Dhabi Ports Company PJSC held its Annual General Assembly Meeting on April 18, 2024, from 3 to 4 p.m. at the company's head office and virtually. The meeting was chaired by H.E. Falah Mohammed Falah Jaber Al Ahbabi, and had a quorum of 80.1785%. All ordinary resolutions were approved, including the board of directors' report, external auditors' report, company's balance sheet, and profit and loss account for the financial year ended on December 31, 2023. The board's recommendation of no cash dividends distribution for 2023 was approved, as was the payment of AED 10,902,000 to the board as remuneration. The board and auditors were discharged from liability for their 2023 activities. Deloitte & Touche (ME) were appointed as external auditors for 2024, with a remuneration of AED 2,005,000 plus VAT. Two additional board members, Renzo Bravo Calambrogio and Soren Jensen, were elected.

The Abu Dhabi Ports Company has received nomination applications from two candidates, Renzo Bravo Calambrogio and Soren Jensen, for two additional seats on the board. This is contingent on the General Assembly approving an increase in the number of board members from seven to nine. The information was disclosed by the company's General Counsel, Emil Pellicer, to the Market Operations & Surveillance and Disclosure & Compliance sections of the Abu Dhabi Securities Exchange, with a copy sent to the Securities and Commodities Authority.

The Abu Dhabi Securities Exchange (ADX) announced that the Securities and Commodities Authority (SCA) has approved the request to hold the Annual General Assembly meeting (AGM) of Abu Dhabi Ports Company PJSC on Thursday 18 April 2024, at 3:00pm. The AGM invitation was published in two daily newspapers in English and Arabic on Wednesday 27 March 2024. The AGM invitation and a disclosure regarding AGM proxies and nomination announcement for two board seats were attached.

The Abu Dhabi Securities Exchange (ADX) announced that the Securities and Commodities Authority (SCA) has approved the request to hold the Annual General Assembly Meeting (AGM) of Abu Dhabi Ports Company PJSC on Thursday 18 April 2024, at 3:00pm. The AGM invitation was published in two daily newspapers in English and Arabic on Wednesday 27 March 2024. The AGM invitation and a disclosure regarding AGM proxies and nomination announcement for two board seats are attached.