Press releases, Reports & Disclosures for National Marine Dredging Co.

The Board of Directors of the National Marine Dredging Company PJSC held a meeting via video conference on 13 March 2024. During the meeting, H.E. Mohamed Thani Murshed Alrumaithi was elected as the Chairman of the Board of Directors, and Mohamed Ibrahim Al Hammadi was elected as Vice Chairman. The Board's committees were formed and their members appointed. The Audit Committee includes Ahmad Amer Omar Al Amri as Chairperson, Abdul Ghaffar Al Khoori and Dr. Aaesha Ali Hashem as members. The Nomination and Remuneration Committee includes Mohamed Al Hammadi as Chairperson, Yaser Saeed Al Mazrouei and Ahmad Amer Omar Al Amri as members.

The National Marine Dredging Company held its General Assembly Meeting on March 8, 2024, with an 88.53% quorum achieved through electronic voting. The meeting approved several resolutions, including the Board of Directors' report on the company's activities and financial position for 2023, the external auditor's report, the balance sheet and profit and loss account, and a cash dividend distribution of AED 618,750,000. The meeting also approved a payment of AED 20 million to the Board of Directors as remuneration and absolved both the Board and the external auditors of liability for 2023.

The National Marine Dredging Company held its General Assembly Meeting on 8 March 2024, which was attended by 88.53% of shareholders virtually. The meeting approved the company's activities and financial position report, the external auditor's report, the balance sheet and profit and loss account for the financial year ending 31 December 2023. The Board of Directors' recommendation for a cash dividend distribution of AED 618,750,000 was also approved, along with a payment of AED 20 million to the Board of Directors as remuneration for the financial year. The meeting concluded with the approval of absolving the Board of Directors and external auditors of liability for the year ended 31 December 2023.

The Abu Dhabi Securities Exchange has received nominations for the board membership of the National Marine Dredging Company PJSC. The candidates include H.E Mohamed Thani Murshed Alrumaithi, Abdul Ghaffar A. A. Al Khoori, Mohamed Al Hammadi, Eng/ Hamad Salem Mohamed Al Ameri, Yaser Saeed Al Mazrouei, Ahmad Amer Omar Omar, and Dr. Aesha Ali Hashem. The Nomination and Remuneration Committee of the Company’s Board of Directors has endorsed these applications. The details of the candidates will be published on the Company’s website. There are seven board seats available.

Resolution No. (299) of 2024 temporarily suspends trading of shares for National Marine Dredging Co. on the ADX due to their AGM being held at 11:00 on March 8, 2024. The suspension will begin from 09:00 on March 8, 2024, until the AGM results are received by ADX. All heads of departments in ADX are required to execute 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 was approved by the authorised person and issued on February 16, 2024.

The Securities and Commodities Authority (SCA) has approved the National Marine Dredging Company PJSC's request to hold its Annual General Assembly Meeting (AGM) on 8 March 2024 at 11 a.m. UAE time. The AGM invitation has also been approved by the SCA and will be published in two daily newspapers in English and Arabic on 16 February 2024. The AGM invitation, the invitation to the election of the Company’s Board of Directors’ membership, and a disclosure regarding AGM proxies are attached.

The National Marine Dredging Company PJSC has released its consolidated financial statements and reports for the year ending on 31 December 2023.