Press releases, Reports & Disclosures for Gulf Pharmaceutical Industries

The Gulf Pharmaceutical Industries PSC reported accumulated losses of AED 346.7 million for the year ending 2023, contributing to an accumulated losses to paid-up capital ratio of 30.0% as of 31 December 2023. The losses are attributed to prior years and the net loss for 2023. To address these losses, the company has taken several measures including developing their topline in key markets, restructuring their product portfolio, launching new products, implementing process improvements, and initiating cost containment. The company's general assembly approved this plan, and it is noted that these losses do not exceed 50% of the paid-up capital.

Resolution No. 322 of 2024 announces the temporary suspension of trading for the shares of Gulf Pharmaceutical Industries. This suspension is in accordance with Article No. 16 of the Regulations Concerning the Listing of Securities on ADX. The suspension is due to a Board of Directors Meeting for Gulf Pharmaceutical Industries, which coincides with the trading session at ADX. Trading of the company's shares will be suspended from 09:00 on 14-Mar-2024 until ADX receives the meeting results. The resolution instructs all departments in ADX to execute this resolution and it will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 11/03/2024.

The public joint shareholder company, Gulf Pharmaceutical Industries PSC (Julphar), established in 1980, has released its preliminary results for the year ending 31st December 2023. The company's paid-up, subscribed, and authorized capital is 1,155,227,811. The Chairman of the Board is Sheikh Saqer Bin Humaid Al Qassimi, and the Chief Executive Officer is Basel Nimer Ali Ziyadeh. The external auditor for the company is Ernst & Young. The company can be contacted through mail at P.O. Box 997, telephone at +971 7 246 1461, fax at +971 7246 2462, or email at julphar@emirates.net.ae.

Resolution No. (285) of 2024 announces the temporary suspension of trading of Gulf Pharmaceutical Industries' shares on the ADX trading platform. The suspension is due to a board meeting of Gulf Pharmaceutical Industries coinciding with the trading session at ADX on February 13, 2024. Trading will be suspended from 09:00 on February 13, 2024, until ADX receives the meeting results. The resolution also mandates all department heads at ADX to implement this decision in their respective fields and circulate the resolution to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on February 12, 2024.