Abu Dhabi National Co. for Building Materials

The Discussion and Analysis Report for Abu Dhabi National Building Materials Company PJSC, also known as Beldco, covers financial statements up to September 2024. For this period, the company reported net revenues of AED 40,981,848, up from AED 27,843,428 in the same period the previous year. The cost of sales was AED 34,999,842, compared to AED 30,176,989 the previous year. Total profits reached AED 5,982,006, a significant improvement from a total loss of AED 2,333,561 in the prior year. The company recorded consolidated net profits of AED 13,743,681, reversing a consolidated net loss of AED 17,936,171 from the previous year. Earnings per share were 0.05 dirhams, compared to a loss of 0.06 dirhams in the prior year. Net shareholders' equity stood at AED 33,740,871 as of September 30, 2024, up from AED 20,680,212 at the end of 2023. No securities were issued during this financial period.

Resolution No. 524 of 2024 announces the temporary suspension of trading for the shares of Abu Dhabi National Co. for Building Materials (BILDCO) on the Abu Dhabi Securities Exchange (ADX). This suspension will occur from 14:00 on December 10, 2024, coinciding with the company's Annual General Meeting (AGM), and will remain in effect until ADX receives the AGM results. The resolution mandates that all ADX department heads implement this decision within their respective areas. It also requires that the resolution be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution has been approved by the authorized person and was issued on November 18, 2024.

The Corporate Governance Manual clarifies that shareholders have the right to delegate someone to attend the general assembly on their behalf, provided the delegate is not a board member, company staff, or securities brokerage company employee. The delegate can represent no more than 5% of the company’s issued capital. Legal representatives must represent persons lacking legal capacity. The shareholder's signature on the power of attorney must be approved by a notary public, commercial chamber, bank, or any licensed attestation entity. The proxy form must include the shareholder's and brokerage firm's contact details. For further inquiries, shareholders can contact m.hamtou@bildco.ae.

Abu Dhabi National Building Materials (BILDCO) is inviting nominations for a vacant position on its Board of Directors. Shareholders who meet the eligibility criteria can submit their nominations from November 20 to November 29, 2024. Applications should include an introduction and specify whether the candidate is applying as an executive, non-executive, or independent member. The nomination process adheres to corporate governance standards as per relevant legal requirements. Only one member will be elected, and candidates must comply with the conditions outlined in Federal Decree-Law No. 32 of 2021.

Abu Dhabi National Building Materials (BILDCO) invites its shareholders to attend a General Assembly meeting on Tuesday, December 10, 2024, at 2:00 PM. The meeting will be held at the company's headquarters in Abu Dhabi and can also be attended electronically. The agenda includes approving the appointment of Mr. Omran Sultan Matar Matar Al Halami to the Board of Directors, electing a new board member for a vacant seat, and deciding on the company's purchase of its own shares as treasury shares at a rate of 5% of the capital. Shareholders are required to register and vote electronically between December 3, 2024, at 3:00 PM and December 10, 2024, at 10:00 AM. Proxy holders can also register online and must submit the necessary documentation. Shareholders may delegate a representative, with certain restrictions, to attend the meeting on their behalf.

The Abu Dhabi National Company for Building Materials (BILDCO) held its eleventh board meeting of 2024 on 14th November. During this meeting, the board approved the minutes from the previous meeting (meeting no. 10 of 2024), approved the financial statements for the third quarter of 2024, and decided to restructure the permanent committees of the Board of Directors.

Resolution No. 519 of 2024 announces the temporary suspension of trading for the shares of Abu Dhabi National Co. for Building Materials (BILDCO) on the Abu Dhabi Securities Exchange (ADX). This suspension will start at 14:00 on November 14, 2024, coinciding with the company's Board of Directors meeting, and will remain in effect until ADX receives the meeting results. The resolution mandates all ADX department heads to implement the necessary actions within their areas of responsibility and requires the resolution to be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by an authorized person and issued on November 11, 2024.