Gulf Pharmaceutical Industries

Gulf Pharmaceutical Industries P.S.C. has released its unaudited interim condensed consolidated financial statements for the period ending 30 June 2024.

Resolution No. 465 of 2024 announces the temporary suspension of trading for Gulf Pharmaceutical Industries (JULPHAR) shares on the Abu Dhabi Securities Exchange (ADX). This suspension will start at 12:00 PM on August 14, 2024, due to a Board of Directors meeting that coincides with the trading session. Trading will resume once ADX receives the meeting results. The resolution requires all ADX department heads to implement this decision and mandates its circulation to the Securities and Commodities Authority (SCA), the concerned company, relevant ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on August 8, 2024.

The document in question is an unaudited interim condensed consolidated financial statement from Gulf Pharmaceutical Industries P.S.C., as of 31 March 2024. This is a financial report that provides an overview of the company's economic status and performance during this period.

Resolution No. 402 of 2024 pertains to the temporary suspension of trading on the shares of Gulf Pharmaceutical Industries. The resolution is in accordance with Article No. 16 of the Regulations concerning the listing of securities on ADX. As per the resolution, trading on JULPHAR shares will be suspended from 09:00 on 14-May-2024 until ADX receives the meeting results of the Gulf Pharmaceutical Industries Board of Directors meeting scheduled at 11:00 on the same day. The resolution instructs all department heads at ADX to execute this decision and circulate the information to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 09/05/2024 and has been approved by an authorised person.

The text is a 2023 Governance Report for Gulf Pharmaceutical Industries, also known as Julphar. The document has been verified with a DocuSign Envelope ID: 52D6D4FE-281B-4821-BEC1-42575389C5A7.

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.