Multiply Group PJSC

Multiply Group PJSC has released its Directors Report and Financial Information for the three months and six months period ending on 30 June 2024. The document includes details about the company's financial performance and other relevant updates for the specified periods.

On July 29, 2024, at 4:00 PM, a meeting of the Board of Directors of Multiply Group PJSC was held with the majority of board members present. During the meeting, the audited financial statements for Q2 2024 were approved, and other business matters were discussed. The information was communicated to the Securities and Commodities Authority (SCA) and the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange.

The Board of Directors of Multiply Group PJSC held a meeting on July 29, 2024, at 4:00 PM, attended by the majority of board members. During the meeting, the audited financial statements for Q2 2024 were approved, and other business matters were discussed. The information was communicated to the Securities and Commodities Authority (SCA) and the Abu Dhabi Securities Exchange.

The document is a formal notification addressed to the Disclosures and Compliance Section of the Securities and Commodities Authority (SCA) and the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange. It informs them that the Board of Directors of Multiply Group PJSC will hold a meeting on July 29, 2024, at 4:00 PM. The agenda for the meeting includes the approval of the audited financial statements for Q2 2024 and other business matters. The notification is signed by Samia Bouazza, the Group CEO and Managing Director.

On July 9, 2024, Mr. Andre G. Sayegh resigned as Chairman of Multiply Group PJSC’s Board of Directors due to personal reasons and professional commitments. The Board expressed gratitude for his contributions and wished him success in his future endeavors. Mr. Syed Basar Shueb was appointed as the new Chairman effective July 10, 2024. This notification was copied to the Securities and Commodities Authority and the Abu Dhabi Securities Exchange.

On July 9, 2024, Mr. Andre G. Sayegh resigned as Chairman of Multiply Group PJSC's Board of Directors due to personal reasons and professional commitments. The Board expressed gratitude for his contributions to the group's growth and wished him success in his future endeavors. Subsequently, Mr. Syed Basar Shueb was appointed as the new Chairman of the Board of Directors, effective July 10, 2024. This notification was sent to the Securities and Commodities Authority (SCA) and the Abu Dhabi Securities Exchange.

Omorfia Group, the beauty division of Abu Dhabi-based Multiply Group, has acquired 100% ownership of The Grooming Company Holding (TGCH) from CedarBridge Capital Partners. This acquisition, which includes 47 owned and operated salons and 15 franchises across five countries, aligns with Omorfia Group's strategy for growth through targeted acquisitions. TGCH’s portfolio includes brands like N.BAR, 1847, and Sisters Beauty Lounge, serving over 120,000 customers annually. This move brings Omorfia Group's total to 132 owned and operated salons, reinforcing its leadership in the GCC and MENA beauty sectors. The company plans to expand its footprint through organic growth and strategic partnerships. Leaders from both groups emphasized the benefits of combining their operational capabilities and expertise to enhance service quality and drive sustainable growth.

Multiply Group PJSC has announced that Omorfia Group, a subsidiary specializing in beauty and personal care, has acquired 100% ownership of The Grooming Company Holding (TGCH) from CedarBridge Capital Partners. TGCH operates 47 salons and 15 franchises across five countries, offering services to both men and women. The main brands under TGCH include N.BAR, 1847, and Sisters Beauty Lounge, with a combined total of 62 locations. Additionally, Wellbe Trading, a subsidiary of TGCH, is the exclusive distributor of high-end beauty products in the GCC region.