International Holding Company PJSC

International Holding Company PJSC (IHC) has issued a notice to inform the public about the misuse of its name, employee names, and logo by scammers promoting fraudulent investment opportunities and tenders online. These scammers request personal, business, and financial information, including credit card or bank details, to pay tender fees or invest in the company. IHC emphasizes that it never sends such requests for personal or financial information via email, mail, or any other means, nor does it ask for payments or investments in this manner. The company advises verifying the legitimacy of any communication claiming to be from IHC by checking the sender’s email address, which should come from the “@ihcuae.com” domain. For protection against scams, IHC encourages staying updated with their latest news on their official website or through the Abu Dhabi Securities Exchange (ADX).

On July 9, 2024, the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange received a disclosure from IHC Subsidiary, Two Point Zero Group LLC, regarding the completion of a Voluntary Tender Offer (VTO). The VTO, initially disclosed on May 31, 2024, involved acquiring a significant minority stake in Elsewedy Electric SAE, a company listed on the Egyptian Exchange (EGX). A total of 427,711,646 shares, representing 19.98% of Elsewedy Electric's issued shares, were tendered in favor of the VTO. The share transfer on the EGX is expected to be completed by July 10, 2024, with settlement anticipated by July 15, 2024. Copies of this disclosure were also sent to the Securities and Commodities Authority in Abu Dhabi.