Press releases, Reports & Disclosures for Emirates Driving Company

Resolution No. 303 of 2024 temporarily suspends trading of the shares of Emirates Driving Company. This is due to a board of directors meeting scheduled for 13:30 on 28-Feb-2024, which coincides with the trading session at ADX. As a result, trading in DRIVE shares will be suspended from 09:00 on 28-Feb-2024 until ADX receives the meeting results. All department heads in ADX are required to execute this resolution in their respective fields. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 22/02/2024.

The Emirates Driving Company pjsc has scheduled a meeting on Wednesday, 28th February 2024, starting at 01:30 pm. The meeting will discuss the date for the annual general meeting for the fiscal year ending on December 31st, 2023 and its agenda. Other business matters and progress on company projects will also be discussed. The notice was signed by the Chief Executive Officer, Khaled Al Shemeili, on 28/02/2024.

The text appears to be an introduction to a Management Discussion and Analysis Report for the Emirates Driving Company P.J.S.C., dated 31 December 2023. The report is likely to provide an overview of the company's financial performance, business trends, and future prospects. The website www.edcad.ae is provided, presumably for more detailed information or access to the full report.

On January 9th, 2024, the Emirates Driving Company PJSC held its Annual General Meeting from 4:00 pm to 4:12 pm. The meeting was chaired by H.E. Khalifa Abdulla Al Romaithi and had a 68.32% quorum, all of which attended through electronic voting. Two special resolutions were approved. The first resolution was to split the share nominal value to fifty Fills from one UAE Dirham, increasing the number of issued shares to 179,572,800 from 89,786,400, subject to regulatory approval. The second resolution approved capitalizing part of the retained earnings, amounting to AED 448,932,000, to increase the share capital to AED 538,718,400. This will result in the issuance of 897,864,000 new shares, which will be distributed to shareholders pro-rata to their current shareholding, subject to regulatory approval.

On January 9th, 2024, Emirates Driving Company PJSC held its Annual General Meeting from 4:00 pm to 4:12 pm. The meeting was chaired by H.E. Khalifa Abdulla Al Romaithi and had a 68.32% quorum attendance, all of which was through electronic voting. Two special resolutions were approved: the first one to split the share nominal value to fifty Fills from one UAE Dirham, thereby increasing the number of issued shares to 179,572,800 from 89,786,400. The second resolution approved the capitalization of part of the retained earnings amounting to AED 448,932,000, increasing the share capital to AED 538,718,400 and issuing 897,864,000 new shares. These new shares will be distributed to shareholders in proportion to their current shareholding. Both resolutions are subject to regulatory approval.

The Abu Dhabi Securities Exchange has issued Resolution No. (263) which suspends the trading of shares of the Emirates Driving Company. The suspension will be effective from 18th January 2024 until further notice. All departments of the Abu Dhabi Securities Exchange are required to implement this resolution in accordance with their functions. The resolution will be circulated to the respective company, brokers and will be effective from the issuance date, which is 18th January 2024. The resolution was issued by Chief Executive Officer, Abdulla Salem ALNuaimi.

The electronic correspondence, under reference number 2024/1522/خ/ت dated 18/01/2024, announces the amendment of the basic system of the Emirates Company for Driving Education. The decision was made based on the Federal Law No. 32 of 2021 regarding commercial companies and their amendments, and the special resolution issued by the general assembly of the company. The company has decided to split the nominal value of the company's share by reducing the nominal value of the share to become fifty (50) fils. This increases the number of issued shares in the capital to 1,070,070,999 shares and increases the company's capital from 89,798,400 dirhams to 538,718,400 dirhams. This is distributed over 1,077,208,800 shares with a nominal value of (50) fifty fils, with an increase of 448,920,000 dirhams as a result of transferring part of the retained profits to the capital. The company's basic system was amended to reflect these changes. The certificate will be published in the official newspaper and will be effective from the date of its issuance.