DANA GAS PJSC

At Dana Gas PJSC's Annual General Meeting, shareholders agreed to the Board of Directors' recommendations for all proposed resolutions and elected a new 11-member board for the next three years. The new board includes three new directors: Mohammed Al Hashimi, Omar al Mulla, and Mohamed Al-Khoori. Despite a challenging economic environment and declining oil prices, Dana Gas's business model proved resilient. The company improved its financial position and expects to resume dividends soon. Dana Gas anticipates continued strong financial performance, supported by operational performance and higher commodity prices. The KM250 expansion project in the Kurdistan Region is expected to generate an additional $150 million in revenue. The Egyptian Cabinet's approval of a draft law authorizing EGAS to contract with Dana Gas is expected to extend the operational lifespan of the company's Egyptian assets and includes further investment of approximately $100 million.

The General Assembly meeting of Dana Gas PJSC took place on 17th April 2024, from 11:00 AM to 12:12 PM, both in-person and virtually. The meeting was chaired by Mr. Abdul Hameed Dhia Jafar and had a quorum of 52.55%. The attendees registered through an e-voting system, with a personal attendance rate of 100%. The assembly approved the Board of Directors' report on the company's activities and financial position for the year ended December 31st, 2023. The company's external auditors' report and financial statements for the same period were also approved. The assembly agreed to transfer 10% of the annual net profit to the Legal Reserve and the Voluntary Reserve, each amounting to AED 59 million. The balance of AED 728 million will be carried forward to retained earnings. No dividend will be distributed for the financial year ended 31st December 2023.

On 17th April 2024, Dana Gas PJSC held a board meeting from 12:30 PM to 12:50 PM with all 11 board members present. The board elected Mr. Abdulhameed Dhia Jafar as Chairman and Mr. Rashed Saif Saeed Al-Jarwan Al-Shamsi as Vice-Chairman for the 2024-2027 term. In addition to these elections, the board also discussed administrative issues and business-related matters. The meeting's decisions were authorized and signed by the Board Secretary, Omran Al Zamani.

The General Assembly meeting of Dana Gas PJSC took place on 17th April 2024, from 11:00 AM to 12:12 PM, chaired by Mr. Abdul Hameed Dhia Jafar. The quorum of total attendance was 52.55%, with 100% of attendees registering through the electronic voting system. The assembly approved the Board of Directors' report on the company's activities and financial position for the financial year ended December 31st, 2023. It also approved the External Auditors' report and the company's financial statements for the same year. The assembly resolved to transfer 10% of annual net profit to the Legal Reserve (AED 59 million) and the Voluntary Reserve (AED 59 million), with the balance of AED 728 million carried forward to retained earnings. It was also decided that no dividend would be distributed for the financial year ended 31 December 2023.

On 17th April 2024, Dana Gas PJSC held a board meeting with all 11 members present. During the meeting, Mr. Abdulhameed Dhia Jafar was elected as Chairman and Mr. Rashed Saif Saeed Al-Jarwan Al-Shamsi as Vice-Chairman for the term 2024-2027. The board also discussed administrative issues and matters related to the company's business. The meeting started at 12:30 PM and ended at 12:50 PM. The authorized signatory for the meeting's decisions and resolutions was Omran Al Zamani, the Board Secretary.

On 17th April 2024, Dana Gas PJSC held a board meeting from 09:34 AM to 10:30 AM, with 9 members present, achieving a 90% quorum. The board discussed the preparations for the 2024 General Assembly and the meeting agenda, which included a special resolution for approval at the AGM. Administrative issues and matters related to the company's business were also considered. The meeting was signed off by the Board Secretary, Omran Al Zamani.

Resolution No. 365 of 2024 temporarily suspends trading on the shares of DANA GAS PJSC. This decision is in accordance with Article No. 16 of the Regulations Concerning the Listing of Securities on ADX. The suspension is due to a meeting of DANA GAS PJSC Board of Directors scheduled for 09:30 on 17-Apr-2024, which coincides with the trading session at ADX. As a result, trading in DANA shares will be halted from 09:00 on 17-Apr-2024 until ADX receives the meeting results. All heads of departments in ADX are required 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 15/04/2024.

Resolution No. 342 of 2024 announces the temporary suspension of trading on the shares of DANA GAS PJSC. The suspension is due to coincide with the company's AGM, scheduled for 11:00 on 17-Apr-2024, which overlaps with the trading session at ADX. Trading will be halted from 09:00 on 17-Apr-2024 until ADX receives the AGM results. All department heads in ADX are required 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 has been approved by the authorized person and was issued on 22/03/2024.