Press releases, Reports & Disclosures for Dubai Taxi Company PJSC

The document is a review report and condensed interim financial information for the Dubai Taxi Company P.J.S.C., covering the three-month period ending on 31 March 2024.

The Board of Directors of the Dubai Taxi Company P.J.S.C. held a meeting on May 07, 2024, at the company's headquarters. The meeting achieved quorum and two main agenda items were addressed and approved. These include the interim financial statements for the period ending on March 31, 2024, and other operational and internal matters. The information was relayed by the Board Secretary, Vicken Khochafian, to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market.

On 1st May 2024, Rami Mohammad Al Banna, Head of Investor Relations at Dubai Taxi Company PJSC, sent a letter to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market. The letter was to inform him about the company's earnings call scheduled for 3:00 pm on 8th May. This call is intended to discuss the financial results for the first quarter of 2024. The presentation for the call will be available on the company's website before the meeting. The Securities and Commodities Authority was also copied in the letter.

On April 29, 2024, a letter was sent to Mr. Hamed Ahmed Ali, the CEO of the Dubai Financial Market. The letter was from Vicken Khochafian, the Board Secretary of the Dubai Taxi Company P.J.S.C., notifying him about a board meeting scheduled for May 07, 2024, at 3:00 pm at the company's headquarters. The agenda for the meeting includes discussions and approvals on the first quarter financials of 2024 and other operational and internal matters. A copy of the letter was also sent to the Securities and Commodities Authority.

The text is a formal communication to Mr. Hamed Ahmed Ali, the Chief Executive Officer of Dubai Financial Market, from the Board of Directors of Dubai Taxi Company P.J.S.C. The letter, dated 03/04/2024, informs about a Board Resolution by Circulation that was issued on the same date. The resolution pertains to the approval of internal matters that do not impact the company's share price. The letter is signed off by Vicken Khochafian, the Board Secretary. A copy of the letter is also sent to the Securities and Commodities Authority.

The letter is addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of Dubai Financial Market, from Vicken Khochafian, the Board Secretary of Dubai Taxi Company P.J.S.C. The letter notifies that the Board of Directors of the Dubai Taxi Company will be issuing a Board Resolution by Circulation on 03/04/2024. This resolution pertains to the approval of internal matters and will not impact the company's share price. A copy of the letter is also sent to the Securities and Commodities Authority.

The Dubai Taxi Company held its Annual General Meeting on March 28, 2024, at the InterContinental Hotel in Dubai Festival City. The meeting had an option for electronic participation and achieved a legal quorum. Resolutions approved during the meeting include the appointment of Mr. Vicken Khochafian as the Secretary for the Meeting and LUMI as Vote Collector and Registrar. The company's activities and financial position for the fiscal year ending December 31, 2023, were approved, as was the independent auditor’s report for the same period. The Company's balance sheet and profit and loss account for the fiscal year ending on December 31, 2023, were also approved. The Board of Directors' proposal to distribute cash dividends for the 4th Quarter of the fiscal year ending on December 31, 2023, was approved, and the payment date was set on April 23, 2024. The Board of Directors was authorized to distribute semi-annual dividends in October. The proposal concerning the Board of Directors remuneration for the fiscal year ending on December 31, 2023, was also approved.

The Board of Directors of Dubai Taxi Company P.J.S.C. has invited its shareholders to the Annual General Meeting (AGM) on Thursday, March 28, 2024. The meeting will be held in-person at the InterContinental Hotel in Dubai and virtually via a link provided to shareholders. The agenda includes approving the appointment of a meeting secretary, reviewing the company's financial position for 2023, approving the independent auditor's report, and considering proposals to distribute a cash dividend, among other items. Shareholders must register online to participate virtually and vote on agenda items. They also have the option to attend remotely or appoint a proxy.

The financial statements of Dubai Taxi Company P.J.S.C., formerly known as Dubai Taxi Corporation, as of 31 December 2023 have been released. The statements provide detailed information about the company's financial performance and position.

Dubai Taxi Company (DTC) has reported a 54% YoY increase in net profit for FY 2023, reaching AED 345.3 million ($94 million). The company's full-year revenue rose by 11% to AED 1.95 billion ($531 million), with 46 million trips completed across its taxi and limousine segments, marking an 8% YoY increase. EBITDA also increased by 55% YoY to AED 490.5 million ($133 million), with a margin increase to 25%. The board has approved a Q4 2023 dividend of AED 71 million ($19 million) to be distributed in April 2024. The results come after DTC's successful IPO on the Dubai Financial Market in December 2023.