Press releases, Reports & Disclosures for Fujairah Cement Industries

The Abu Dhabi Securities Exchange's Market Operations Surveillance Department has issued a disclosure regarding a board meeting for Fujairah Cement Industries (PJSC). The meeting is scheduled for Wednesday, 24/04/2024 at 12:30 PM. The agenda includes the implementation of AGM (42) decisions, discussion on normal operational matters, and other topics. The communication is also marked to SCA.Saeed Ahmed Ghareib Alseridi, the General Manager.

Resolution No. 349 of 2024 has been issued concerning the temporary suspension of trading on the shares of Fujairah Cement Industries. The suspension is due to the company's AGM being held at 11:00 on 24-Apr-2024, which coincides with the trading session at ADX. Trading in FCI shares will therefore be suspended from 09:00 on 24-Apr-2024 until ADX receives the AGM results. The heads of departments in ADX are tasked with executing 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 has been approved by the authorized person and was issued on 27/03/2024.

The annual general meeting of Fujairah Cement Industries is scheduled to take place on Wednesday, 24/04/2024 at 11.00 AM at the company's head office in Fujairah. The meeting can be attended either electronically or in person. The company has received approval from the Securities & Commodities Authority to hold the meeting and advertise it in local newspapers, in accordance with the Commercial Companies Law. The invitation and agenda will be published in the local newspapers, Al Khaleej & Gulf Today, on Thursday, 28/03/2024.

The text refers to the consolidated financial statements and reports of Fujairah Cement Industries PJSC and its subsidiary for the year ending on 31st December 2023. The company is based in Fujairah, United Arab Emirates.

Fujairah Cement Industries P.J.S.C held a board meeting on 25/03/2024, with a 91% quorum of its 10 board members. The board approved the minutes of the last meeting, reviewed the company's performance for 2023, and approved the financial statements for the year ended 31/12/2023. The board also approved the operation plan and the engagement of a financial advising firm for debt restructuring. Additionally, the board approved a recommendation to amend Article 7 (Ownership Percentage) of the company's Article of Association, pending approval from the competent authorities.

Resolution No. 333 of 2024 addresses the temporary suspension of trading on Fujairah Cement Industries shares due to a coinciding board meeting. According to Article 16 of the Regulations Concerning the Listing of Securities on ADX, trading will be suspended from 09:00 on March 25, 2024, until the meeting results are received by ADX. The resolution mandates all department heads at ADX to execute the suspension in their respective fields and circulate the resolution to the Securities and Commodities Authority, the concerned company, all ADX departments, and all ADX-accredited brokers. The resolution was issued on March 19, 2024.