Invictus Investment Company PLC

The Invictus Investment Company PLC has announced a virtual Board of Directors’ meeting on 23rd May 2024 at 3:05pm UAE time. The main agenda of the meeting is to review and possibly approve the issuance of a binding offer to acquire a majority stake in a food manufacturing business in Africa. Additionally, other general business matters with no significant impact on the company's share price will be discussed.

The General Assembly Meeting of Invictus Investment Company PLC was held remotely on April 19, 2024, at 3:00 pm. The meeting was called upon by the Company’s Board of Directors and had a quorum of registered shareholders owning 1,017,880,480 shares, which represents 90.88% of the Company's share capital. The attendees included the Chairman, Mr. Osama D. Abdellatif, Director Mr. Amir D. Abdellatif, Group Chief Financial Officer Mr. Robert Rotich, and internal legal counsel Mr. Zia Hashmi. The agenda of the meeting was to discuss topics that were previously announced and to make appropriate decisions.

The Invictus Investment Company PLC held its Annual General Assembly Meeting on April 19, 2024. The meeting, chaired by Mr. Osama D. Abdellatif, began at 3:00 pm and ended at 3:30 pm. The meeting was attended by 90.88% of the total capital. The meeting was held virtually on https://web.lumiagm.com. The venue was Al Maqam Tower, 3501, 35 ADGM Square, Al Maryah Island, Abu Dhabi, UAE.

Invictus Investment Company has acquired a 60% stake in Moroccan agri-commodity trading firm Graderco and its subsidiaries from Zalar Holding. The acquisition is in line with Invictus' strategy to expand its presence and trading capabilities in key African markets. Graderco, which trades between 2.5 and 3.0 million metric tonnes of grain and grain derivatives annually, is Invictus' first major stake in warehousing and distribution in Morocco. The deal is expected to result in a 20% increase in Invictus' consolidated revenues over the nine months following the acquisition in 2024. The partnership will also allow Graderco to expand its product offerings.

The Board of Directors of Invictus Investment Company PLC held a virtual meeting on March 26, 2024, at 3:05pm UAE time. All board members were present and approved the issue of a binding offer to purchase up to 60% shareholding interest in Graderco SA Morocco, a major grains trading company, and all its subsidiaries. The board also approved transaction authorities for executing all binding documentation to complete the transaction.

The Invictus Investment Company PLC Board of Directors is set to hold a virtual meeting on March 26, 2024, at 3:05pm UAE time. The agenda includes reviewing the approval of a binding offer and finalizing the purchase of a majority stake in a Morocco-based trading company. The board will also discuss other general business matters that may not significantly impact the company's share price.

Invictus Investment Company reported record financial results for 2023, with a 35% increase in revenue and a 110% growth in commodity transaction volumes. The company's revenue rose to AED 8.1 billion in 2023, up from AED 5.9 billion in 2022. However, its net profit decreased to AED 213.6 million in 2023 from AED 454.5 million in 2022 due to lower international commodity prices and strategic investments in resources and operating capacity. The company also expanded into ten new markets and introduced new products, contributing to its performance. Despite global challenges, the CEO highlighted their operational resilience and plans for continued strategic investment in their supply chain.