Abu Dhabi National Oil Company For Distribution

The Board of Directors of the Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) will hold a meeting on 8th May 2024 at 3:00 p.m. in Abu Dhabi. The agenda for the meeting will include reviewing the Company’s financial statements for the first quarter ended 31st March 2024 and discussing other general business matters.

The Annual General Assembly Meeting of Abu Dhabi National Oil Company for Distribution PJSC, a public joint stock company, was held on 27 March 2024. The meeting was attended in person and virtually by shareholders representing 83.13% of the company's share capital. Mr. Ahmed Alnaqbi attended as a representative of the Securities and Commodities Authority. The meeting was declared quorate by the Chairman, H.E. Dr. Sultan Ahmed Al Jaber. Mr. Ahmad Ma’abreh was appointed as Secretary to the Meeting. First Abu Dhabi Bank and Lumi were appointed as vote collectors. The agenda was then presented by the Secretary.

The Abu Dhabi Securities Exchange received a notification regarding the results of the Annual General Assembly Meeting of Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution). The meeting was held on 27th March 2024. The results of the meeting were attached in the notification. A copy of the notification was also sent to the Securities and Commodities Authority.

The Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution) has shared the results of its annual General Assembly meeting held on March 27, 2024, at 3:00 p.m. The notification was addressed to the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange and copied to the Securities and Commodities Authority. The correspondence was signed by the Board Secretary, Mann El Aydi.

The Board of Directors of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) held a meeting on 27 March 2024. They elected H.E. Dr. Sultan Ahmed Al Jaber as the Chairman and H.E. Ahmed Jasim Al Zaabi as the Deputy Chairman of the Company’s Board of Directors. Mr. Ben Hennessy was appointed as the Board Secretary, effective from 28 March 2024. The board also appointed members to its Board Committees, including the Executive Committee which consists of Mr. Khaled Salmeen as Chairman and six other members.

ADNOC Distribution shareholders have approved a new five-year dividend policy as the company focuses on accelerated growth. The shareholders also approved an H2 2023 dividend of AED1.285 billion, bringing the total 2023 dividend to AED2.57 billion. Since its initial public offering in 2017, ADNOC Distribution has provided shareholders with a 90% return on their investment. The new dividend policy sets an annual dividend of $700 million or a minimum of 75% of net profit, whichever is higher. The company is targeting growth domestically and internationally, exploring expansion into new markets. It also reaffirmed its commitment to AI and innovation-enabled growth, customer-centricity, and sustainability. AI and advanced technology have enabled a four-year high customer convenience store conversion rate of 24.7% and a 10% reduction in carbon emissions of fuel delivery truck operations.

The text is likely about ADNOC Distribution's corporate governance report for the year 2023. It discusses the company's commitment to delivering on its promises and ensuring its business is future-proof. The report also covers the transformation of mobility, a key aspect of ADNOC's operations.

The Board of Directors of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) will meet on 27 March 2024 at 4:30 p.m. in Abu Dhabi. The agenda includes the election of the Chairperson and Deputy Chairperson of the Board, appointment of a new Board Secretary, and appointment of the Board Committees' chairpersons and members. Other general business matters will also be discussed. The notification was sent by the Board Secretary, Mann El Aydi, to the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange and the Securities and Commodities Authority.

The Board of Directors of the Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) has approved a proposal to pay the board AED 25.56 million as remuneration for the financial year ended 31 December 2023. The proposal will be presented to the company's shareholders for approval at the General Assembly Meeting scheduled for 27 March 2024.

On 22nd March 2024, the Market Operations Surveillance Department of Abu Dhabi Securities Exchange announced the list of candidates for the Board of Directors of Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution). This follows the opening of nominations for the board membership on 5th March 2024. The candidates, who are all non-executive and independent, will be presented to the shareholders at the annual General Assembly Meeting on 27th March. The candidates include H.E. Dr. Sultan Ahmed Al Jaber, H.E. Ahmed Jasim AlZaabi, Mr. Khaled Salmeen, Mr. Khaled Al Zaabi, Mr. Marwan Naim Nijmeh, Mr. Saif Al Falahi, and Mrs. Paula Disberry.