Press releases, Reports & Disclosures for GFH Financial Group B.S.C

GFH Financial Group announced that the Ordinary General Meeting scheduled for Wednesday, October 2, 2024, did not achieve the required quorum, with only 41.58% attendance. Consequently, a second meeting is scheduled for Wednesday, October 9, 2024, at 11:00 a.m. via modern visual communication methods. The announcement was made by Mariam Jowhary, Head of Compliance & AML, and included the company seal.

GFH Financial Group B.S.C. announced its market making activities and treasury share positions for September 2024, complying with the Central Bank of Bahrain's requirements for monthly disclosures by listed companies. The liquidity provider SICO conducted market making transactions in the Bahrain Bourse, while BHM Capital did so in the Dubai Financial Market and Abu Dhabi Securities Exchange. As of September 30, 2024, GFH held 84,186,563 treasury shares, representing 2.20% of the group's total outstanding shares. In the Bahrain Bourse, SICO purchased 2,887,408 securities and sold 1,253,127 securities, with total payments amounting to $984,520 and total receipts of $427,304.

GFH Financial Group B.S.C. announced that a Board of Directors meeting is scheduled for Thursday, November 7, 2024, at 2 p.m. Bahrain time. The agenda includes discussing the financial results for the third quarter of 2024 and other internal matters. The announcement was made by Mariam Jowhary, Head of Compliance and AML.

On 19th September 2024, GFH Financial Group B.S.C. announced that discussions and negotiations are ongoing for the acquisition of Ithmaar Holding B.S.C.'s financing and investment portfolios, subject to regulatory approvals. Shareholders will be regularly updated on any further developments. The expected financial impact will be disclosed in due course. Previous related disclosures were made on 6th March, 7th April, 6th May, and 6th June 2024. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.

Resolution No. (481) of 2024 announces the temporary suspension of trading for GFH Financial Group B.S.C shares on the Abu Dhabi Securities Exchange (ADX). This suspension will start at 12:00 on October 2, 2024, coinciding with the company's Annual General Meeting (AGM), and will continue until ADX receives the AGM results. The resolution mandates that all ADX department heads implement this decision within their respective areas and that the resolution be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by an authorized person and issued on September 17, 2024.

GFH Financial Group has announced its Ordinary General Meeting to be held on October 2, 2024, with alternative dates set for October 9 and October 16 if the legal quorum is not met. The meeting will be conducted via video conferencing. The agenda includes: 1. Approval of the minutes from the previous meeting held on March 24, 2024. 2. Approval of the Board's recommendation to establish a Sukuk Programme worth up to $500 million and issue Sukuk through a Special Purpose Vehicle (SPV), pending necessary approvals. 3. Approval of modifications and an offer related to the 2020 Sukuk issuance, including early redemption for cash. 4. Delegation of powers to the Board of Directors to manage the Sukuk Programme and the Offer, including obtaining regulatory approvals, pricing, agreements, and arbitration. 5. Delegation of powers to the Chief Executive Officer to conduct necessary procedures for the Sukuk Programme and issuances. 6. Discussion of any other matters in accordance with Article 207 of the Commercial Companies Law. The meeting invitation was issued by Abdulmohsen Rashed Alrashed, Chairman of the Board of Directors.

The Ordinary General Meeting of GFH Financial Group is scheduled for October 2, 2024, with provisions for subsequent meetings on October 9 and October 16, 2024, if quorum requirements are not met. The agenda includes: 1. Approval of the minutes from the previous meeting held on March 24, 2024. 2. Approval of the Board of Directors' recommendation to establish a Sukuk Programme worth up to $500 million. 3. Approval of modifications and an offer related to the 2020 Sukuk issuance, including early redemption for cash of outstanding certificates. 4. Delegation of powers to the Board of Directors to carry out the Sukuk Programme and the Offer. 5. Delegation of powers to the Chief Executive Officer to execute necessary procedures for the Sukuk Programme and the Offer. 6. Discussion of any other matters as per Article 207 of the Commercial Companies Law. The meeting will be held via video conferencing, and shareholders are invited to attend.

On September 4, 2024, GFH Financial Group B.S.C. disclosed its market making activities for August 2024, in compliance with the Central Bank of Bahrain's requirements. The announcement detailed transactions conducted by GFH’s market maker "SICO" on the Bahrain Bourse, and the liquidity provider "BHM Capital" on the Dubai Financial Market and Abu Dhabi Securities Exchange. As of August 31, 2024, SICO purchased 3,198,598 securities and sold 1,274,448 securities on the Bahrain Bourse, with total money paid amounting to USD 1,007,885 and total money received amounting to USD 411,461. The securities balance stood at 2,925,000, and the cash balance was USD 4,920,869.

GFH Financial Group B.S.C. announced the successful completion of its webcast for the second quarter of 2024 financial results. The webcast was held online on Wednesday, August 14, 2024, at 1:00 p.m. Bahrain time. The presentation and script from the session are attached. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group B.S.C. announced that its Board of Directors held a meeting on Monday, August 12, 2024, at 2:00 PM Bahrain time. During the meeting, the board discussed and approved the financial results for the second quarter of 2024, ending on June 30, 2024, along with other internal matters. The financial results for the second quarter of 2024 are attached. The announcement was made by Mariam Jowhary, Head of Compliance & AML.