ESHRAQ INVESTMENTS P.J.S.C

Eshraq Investments PJSC has announced the names of the candidates shortlisted for the election to its Board of Directors. The candidates were selected by the Nomination and Remuneration Committee based on the requirements set in the Nomination Policy of Eshraq, the Commercial Companies Law, and the Resolution of the Chairman of the SCA. The candidates include Fahad Abdulqader Al Qassim, Matar Hamadan Sultan Hamad Al Ameri, Wafiq Ben Mansour, Maha Abdul Majeed Ismaeel Ali Alfahim, and Jacques Elias Fakhouri.

The text is a clarification regarding the approval of proxies according to clauses 1 and 2 of Article 40 of the Corporate Governance Manual. It states that shareholders with the right to attend the general assembly may delegate someone who is not a board member or staff of the company, or a securities brokerage company or its employees. The delegate should not represent more than 5% of the company's issued capital. The signature of the shareholder on the power of attorney must be approved by a notary public, a commercial chamber or economic department in the state, a bank or company licensed in the state, or any other entity licensed to perform attestation works.

The Board of Directors of Eshraq Investments PJSC has invited its shareholders to attend the annual general assembly meeting on April 24, 2024. The meeting can be attended virtually or in person at the Eshraq headquarters in Abu Dhabi. The agenda includes a special resolution to amend Article 38 of the company's Articles of Association. The amendment relates to remunerations of the Chairman and Directors, which shall not exceed 10% of the net profit for the fiscal year. The company may also pay additional expenses, fees, bonuses, or a monthly salary to board members if they work in any committee or exert special efforts for the company. However, it is not permissible to pay an attendance allowance to the Chairman or Directors for attending board meetings.

Eshraq Investments Company (PJSC) has announced the opening of nominations for membership of its Board of Directors. The nomination period will run from 29/03/2024 to 8/4/2024. Interested shareholders who meet the eligibility criteria can apply for board membership at the company's headquarters in AlReem Island, Abu Dhabi. The board will elect five members. Candidates must have an academic background in corporate finance, investment management, accounting, or economics, and extensive leadership experience in diverse industries. They must not have been previously convicted of a criminal offense or dismissed from a board of a listed company in the year prior to nomination.

Eshraq Investments has announced its FY 2023 results, revealing a net loss of AED 545.10 million, compared to a net profit of AED 589.79 million in 2022. This decline was driven by changes in the value of the Goldilocks Fund and increased net finance costs due to a higher interest rate environment. The company also reported a 48% reduction in total liabilities, mainly due to reduced borrowings. The net investment value of the Goldilocks Fund stood at AED 1.34 billion at the end of 2023, down from AED 1.75 billion in 2022, due to market volatility and an intensive asset revaluation process. Eshraq also announced changes to its board and plans to reveal a refreshed corporate strategy in the coming weeks.

The document presents the consolidated financial statements and reports for Eshraq Investments PJSC for the year ending 31 December 2023.

The Board of Directors of Eshraq Investments PJSC held a meeting on March 19, 2024, with all members present. The board approved the company's audited financial statements for the financial year ending December 31, 2023, and the Corporate Governance Report for the same year. They also approved the agenda of the Annual General Assembly of the Company (AGM) and will schedule a meeting date in agreement with the Securities and Commodities Authority. Decisions about internal administrative and organizational matters were also made.

Eshraq Investments PJSC has announced a Board of Directors' meeting scheduled for March 19, 2024, to be conducted via video and audio conference call. The agenda includes approval of the audited financial statements for the year ending on December 31, 2023, discussion and proposal for the appointment of external auditors for 2024, approval of the Annual General Assembly's agenda, and discussion of other general business matters. The information was disclosed by Mohammad Al Bazaieh, the Corporate/Board Secretary.

On 19/02/2024, Eshraq Investments PJSC issued a statement to the Abu Dhabi Securities Exchange addressing the recent increase in trading volumes of its shares. The company clarified that this activity was not due to any undisclosed material news or events. Eshraq emphasized its commitment to transparency and regulatory compliance. It highlighted a 48% year-on-year reduction in bank borrowings in its preliminary financial disclosures for 2023. The company plans to release its audited consolidated financial statements in March 2024, which will include a comprehensive analysis and a declaration of its revised corporate strategy aimed at increasing shareholder value. The Board of Directors and Executive Management team look forward to sharing this updated strategic direction with shareholders.