Press releases, Reports & Disclosures for DANA GAS PJSC

On November 22, 2023, Dana Gas PJSC held a board meeting with nine members present, achieving an 81% quorum. The board reviewed the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq. They also examined and approved the group's 5-year business plan and the 2024 budget. A report on Group Risk and the company's Q3 2023 financial statements were also reviewed and ratified. Additionally, the board discussed the status of legal and arbitration cases and other routine matters. The meeting was signed off by Board Secretary, Omran Al Zamani, on November 23, 2023.

On 22nd November 2023, Dana Gas PJSC held a board meeting from 11:00 AM to 01:00 PM with 81% quorum achieved. The board, consisting of 9 members, reviewed the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq. They also examined the 5-year business plan and approved the 2024 budget. Other matters discussed included a report on Group Risk, the Q3 2023 financial statements, and the status of legal and arbitration cases. The meeting's resolutions were signed by Board Secretary, Omran Al Zamani, on 23rd November 2023.

Resolution No. (253) of 2023 temporarily suspends trading of DANA GAS PJSC shares on the ADX. This decision is made in accordance with article No. (16) of the Regulations Concerning the Listing of Securities on ADX. The suspension is due to a board meeting of DANA GAS PJSC scheduled for 11:00 on 22-Nov-2023, which coincides with the trading session at ADX. Trading will be suspended from 09:30 on 22-Nov-2023 until ADX receives the meeting results. All department heads at ADX are instructed to implement 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 authorized person and issued on 22/11/2023.

On 22nd November 2022, Dana Gas PJSC held a meeting starting at 11:00 AM. The agenda included discussions on the company's operations in Egypt, UAE, and Kurdistan Region of Iraq, approval of the 5-year Business Plan and 2024 Budget, a report on Group Risk, ratification of Q3 2023 financial statements, status of legal and arbitration cases, and other routine matters. The meeting was officially signed off by Omran Al Zamani, the Board Secretary, on 17th November 2023.

Dana Gas, the Middle East's largest private sector natural gas company, reported a net profit of AED 462 million ($126 million) for the first nine months of 2023, a 22% decrease from the same period in 2022 due to lower realized prices and additional discounts on condensate sales in the Kurdistan Region of Iraq (KRI). The company's revenue also decreased by 21% to AED 1,195 million ($326 million). Despite these challenges, production across all assets remained uninterrupted and collections totaled AED 612 million ($167 million). However, due to delayed collections in the KRI and Egypt and ongoing capital expenditure on the KM 250 expansion project, the company is not currently in a position to pay an interim dividend for the first half of 2023.