Amlak Finance Calls for Annual General Meeting
Amlak Finance P.J.S.C invites shareholders to its AGM to discuss key financial matters and future strategies.
Summary
Amlak Finance P.J.S.C is set to hold its Annual General Meeting on April 21, 2025, to discuss its 2024 financial performance and strategic decisions.
Amlak Finance P.J.S.C, a prominent Islamic finance company based in Dubai, has announced its Annual General Meeting (AGM) scheduled for April 21, 2025. This meeting will be pivotal for shareholders as it covers significant financial and strategic decisions that could shape the company's future trajectory.
The agenda includes the ratification of the Board of Directors' report, the External Auditors' report, and the Internal Sharia Supervisory Committee report for the fiscal year ending December 31, 2024. These reports are critical as they provide insights into the company's operational efficiency, adherence to Sharia principles, and financial health.
One of the key discussions will revolve around the company's balance sheet and profit and loss account for the fiscal year 2024. The financial performance of Amlak Finance will be scrutinized to assess its stability and growth potential. The decision to not distribute dividends this year, as recommended by the Board, will also be a focal point. This decision is likely rooted in strategic reinvestment plans or capital preservation, which could benefit the company in the long run.
Another significant agenda item is the special resolution to approve the sale of the company's investments outside the UAE. This move aligns with the UAE Central Bank's regulations requiring finance companies to divest non-core investments. This strategic realignment could enhance Amlak's focus on its core competencies and potentially improve its financial performance.
For investors, the AGM presents an opportunity to evaluate Amlak Finance's strategic direction and its adherence to regulatory requirements. Given the company's commitment to aligning with central bank regulations and focusing on core business areas, the outlook appears optimistic. However, the decision to withhold dividends may not sit well with all shareholders, although it could indicate a prudent approach to future growth.
In conclusion, potential investors and current shareholders should consider holding their positions in Amlak Finance. The company's strategic decisions and regulatory compliance suggest a stable future, making it a potentially rewarding investment in the long term.
Source
Summary
The Board of Directors of Amlak Finance PJSC invites shareholders to the Annual General Meeting on Monday, April 21, 2025, at 3:00 pm. The meeting will be held remotely or in person at Kempinski the Boulevard, Downtown Dubai. The agenda includes reviewing and ratifying reports from the Board of Directors, External Auditors, and Internal Sharia Supervisory Committee for the fiscal year ending December 31, 2024. Shareholders will also discuss and approve the company's balance sheet, profit and loss account, and the remuneration of Directors. The Board recommends not distributing dividends based on specified justifications. The meeting will also address absolving the Board and External Auditors from liability for 2024. Special resolutions include considering voluntary contributions for 2025 not exceeding 0.2% of the 2024 net profit and approving the sale of the company’s investments outside the UAE in compliance with UAE Central Bank regulations.
Summary
The text provides guidelines on the approval of proxies for attending a company's general assembly meeting, as per the provisions of a 2020 decision regarding the governance of joint stock companies. It specifies that shareholders have the right to attend the meeting and vote according to their shares, and they may delegate someone outside the company's board or staff to attend on their behalf. This delegation must be in writing and explicitly state the agent's right to attend and vote. The delegated person cannot represent more than 5% of the company's issued capital. Legal representatives must represent those lacking legal capacity. The shareholder's signature on the power of attorney must be approved by specific entities such as a notary public, chamber of commerce, a licensed bank or company, licensed financial markets, or any other authorized entity. The proxy form must include the contact details of the shareholder and the representative of the authority that approved the proxy.
