Press releases, Reports & Disclosures for ESHRAQ INVESTMENTS P.J.S.C

Resolution No. (475) of 2024 announces the temporary suspension of trading on the shares of ESHRAQ INVESTMENTS P.J.S.C. due to the company's failure to submit their financial statement. The suspension will commence on August 14, 2024, and will remain in effect until further notice. The resolution mandates all heads of departments in ADX to execute this decision within their respective fields and requires the resolution to be circulated to the 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 August 14, 2024.

Eshraq Investments PJSC held a Board of Directors meeting on August 13, 2024, with all five board members present, achieving a 100% quorum. The board approved the condensed consolidated interim financial information for the six-month period ending June 30, 2024 (unaudited) for Q2 of 2024 and authorized the Chairman to sign them. Additionally, the board made decisions regarding internal administrative and organizational matters. The disclosure was communicated to the Abu Dhabi Securities Exchange.

Eshraq Investments PJSC has announced that their Board of Directors' Meeting No. 4 for the year 2024 will be held on Tuesday, August 13, 2024, via video and audio conference call, starting at 16:30. The agenda includes reviewing and approving the condensed consolidated interim financial information for the six-month period ending June 30, 2024 (unaudited), and discussing other general business matters. The announcement was made by Mohammad Al Bazaieh, Corporate/Board Secretary.

Eshraq Investments PJSC, listed on the Abu Dhabi Securities Exchange, has announced a new corporate strategy focusing on directly held Private Equity investments in high-growth GCC companies over a 5-7 year period. This strategy aims to maximize shareholder value by balancing the portfolio with cash generation from minority equity positions, fixed income assets, and Real Estate investments. The company is also evaluating options for its legacy portfolio, including developed and undeveloped Real Estate assets and the future management of the Goldilocks Fund. The Board has mandated immediate execution of the strategy. Chairman Fahad Al Qassim and CEO Mohamed Al Hashimi expressed confidence in the new direction, highlighting the company's strong balance sheet and experienced management team as key enablers for future growth. Further announcements regarding the transition of legacy assets are expected soon.

Eshraq Investments PJSC held its third Board of Directors meeting for 2024 on 14/05/2024, with all five board members present. The Board approved the minutes of the previous meeting held on 19/03/2024. Mr. Fahad Abdulqader Al Qassim was elected as the Chairman of the Board of Directors, and Mr. Matar Hamdan Al Ameri was elected as the Vice-Chairman. The members of the Board's committees were appointed. The Board also approved the condensed consolidated interim financial information for Q1 2024 and delegated signing authority to the Chairman. Decisions regarding internal administrative and organizational matters were also taken.

Eshraq Investments has released its Q1 2024 financial results, revealing a total net investment value of AED 1.04 billion in its Goldilocks Fund and a decrease in liabilities by approximately AED 400 million. Despite a weaker financial performance due to changes in the Goldilocks Fund's value, the company's finance income rose by 38% year-on-year, with finance costs decreasing by 42%. Eshraq reported a net loss of AED 306.1 million for Q1 2024, largely due to changes in the Goldilocks Fund's value. The company is focusing on portfolio optimization and debt reduction, with plans to announce a refreshed corporate strategy in the coming weeks.

The text appears to be a review report and condensed consolidated financial information for Eshraq Investments PJSC. The report covers the three-month period ending on 31 March 2024.

Eshraq Investments PJSC has announced a Board of Directors meeting scheduled for May 14, 2024, to be held via video and audio conference call. The agenda includes the ratification of minutes from the board meeting held on March 19, 2024, the election of the Chairman and Vice-Chairman, the appointment of board committee members, and the review and approval of the condensed consolidated interim financial information for Q1 2024. Other general business matters will also be discussed. The information was disclosed by Mohammad Al Bazaieh, the Corporate/Board Secretary.