Press releases, Reports & Disclosures for Bayanat AI PLC

The Abu Dhabi Securities Exchange has reported that BAYANAT AI PLC held its Annual General Meeting (AGM) on Thursday, 25 April 2024, at 3:00 pm UAE time. The meeting took place both at the company’s headquarters and virtually. The results and resolutions from the AGM have been attached. The report was signed off by Hasan Ahmed Al Hosani, the Managing Director of BAYANAT AI PLC.

The Board of Directors of Bayanat AI PLC has invited shareholders to attend an Annual General Meeting (AGM) on 25 April 2024, in person or virtually. The agenda includes appointing a secretary and vote collector, approving financial reports, absolving board members and auditors of liability, appointing external auditors, and not distributing dividends for 2023. The AGM will also discuss a proposed merger with AL YAH SATELLITE COMMUNICATIONS COMPANY PJSC (Yahsat), including the issuance of new ordinary shares, changing Bayanat's legal name to 'Space42 PLC', and appointing seven new board members. The board also seeks authorization to take necessary actions to implement the resolutions. Shareholders can register their attendance electronically to vote on the AGM items.

The Board of Directors of Bayanat AI PLC issued a written resolution on 12 March 2024 approving the following: the invitation for the Company’s Annual General Assembly meeting to be held on 25 April 2024, the shareholders’ circular related to the company's merger with Al Yah Satellite Communications Company PJSC ("Yahsat”), and the change of Bayanat’s legal name from ‘Bayanat AI PLC’ to ‘Space42 PLC’. The changes are subject to obtaining the approval of the relevant authorities on the merger agreement terms and conditions.