Gulf Navigation Holding PJSC

Ticker/ISIN

GULFNAV

AEG000601019

Market/Country

Dubai Financial Market

United Arab Emirates

About Gulf Navigation Holding PJSC

Gulf Navigation Holding (“the Company”) changed its legal form to Public Joint Stock Company and became Gulf Navigation Holding PJSC in October 2006. The Company is a holding company with shipping and maritime related activities undertaken through its subsidiaries. The business areas encompass marine transportation of commodities, chartering of vessels, ship agencies, marine transport undertaken by special passengers and merchant contracts, clearing and forwarding services and container loading, unloading, discharging and packing services etc.

Latest Pressrelease Summaries from Gulf Navigation Holding PJSC

Gulf Navigation Holding PJSC has announced the opening of the nomination period for its Board of Directors membership. The nomination period is from April 9 to April 18, 2025. Eligible individuals or shareholders can apply by submitting an application to the company's headquarters in Dubai, accompanied by a brief profile and the desired membership category (Executive, Non-Executive, or Independent Member). Two board members will be elected, and the process complies with relevant governance regulations. Applications must include specific documents as per regulatory requirements. After the nomination period, candidates cannot transfer their candidacy, and the list of nominees will be published on April 27, 2025, and submitted to the Securities and Commodities Authority and the Dubai Financial Market.

Disclosure: Opens the nominations for BOD membership

16 days ago

The text provides instructions for completing and submitting a proxy form to Abu Dhabi Commercial Bank. Shareholders of Gulf Navigation Holding Company are required to fill out the form, appoint a representative to vote on their behalf at the General Assembly meeting on April 30, 2025, and send the form along with supporting documents to the specified email address. The form includes spaces for the shareholder's information, the representative's details, and the contact information of the financial broker or entity that verified the proxy.

Disclosure: Invitation of General Assembly

16 days ago

GULFNAV announced its financial results for 2024, reporting a net loss of AED 20 million due to strategic investments aimed at enhancing long-term operations. The company focused on fleet modernization, operational efficiency, and eco-friendly technologies to comply with maritime regulations and sustainability standards. Despite short-term financial challenges, GULFNAV expects a recovery in petrochemical shipping demand in 2025. It received shareholder approval to acquire Brooge Energy Limited's assets for AED 3.2 billion, which includes new shares, convertible bonds, and cash, pending further approvals. GULFNAV aims to strengthen its financial health, optimize costs, and expand through strategic partnerships.

Disclosure: Press release

24 days ago

The Board of Directors of Gulf Navigation Holding PJSC held a meeting on March 27, 2025, and made several resolutions. They approved the audited financial statements for the year ending December 31, 2024. They also agreed to call for the annual general assembly meeting on April 30, 2025, subject to the approval of the Securities and Commodities Authority. The agenda for this meeting was approved, also pending the same approval. Additionally, the board recommended to the general assembly that no dividends be distributed for the financial year ending December 31, 2024. Finally, they recommended amending Article 43 of the company's articles of association regarding the method of announcing the general assembly meeting to align with governance regulations.

Disclosure: Results of BOD Meeting

24 days ago

Gulf Navigation Holding PJSC (GULFNAV), a company listed on the Dubai Financial Market, announced that its shareholders have approved the acquisition of assets and companies owned by Brooge Energy Limited (BEL) for AED 3.2 billion. The approval was given at a General Assembly Meeting on March 13, 2025. The acquisition includes Brooge Petroleum and Gas Investment Company FZE and its related entities. This move is expected to enhance GULFNAV's capabilities and market position in the midstream oil & gas and logistics sectors. The transaction will be settled through a mix of cash, newly issued shares, and Mandatory Convertible Bonds (MCBs). New shares and MCBs will be issued to BEL, with additional MCBs offered to existing GULFNAV shareholders. A cash payment of AED 460 million is also part of the settlement. The acquisition is part of GULFNAV's strategy to strengthen its presence in the energy sector by expanding storage and logistics capabilities, leveraging BEL's advanced infrastructure to improve operations and add value for stakeholders.

Disclosure: Press release

a month ago

The General Assembly of Gulf Navigation Holding PJSC was held on March 13, 2025, both in person at the Novotel Hotel in Dubai and electronically. The assembly made several resolutions: 1. They approved the presentation concerning the acquisition transaction and the increase in share capital, which involves the conversion of mandatory convertible bonds into shares to acquire companies and assets owned by Brooge Energy Limited. 2. They did not approve the valuation report prepared by an independent valuer appointed by the Securities and Commodities Authority, and the implications of this valuation were presented to the shareholders and the company. 3. They approved the valuation report prepared by the company's advisor for both the company and the acquired companies, with the Board of Directors recommending shareholder approval of this valuation.

Disclosure: Resolutions of General Assembly

a month ago

Gulf Navigation Holding PJSC has released its preliminary unaudited results for the year ending December 31, 2024. The company was established on November 6, 2006, and has a paid-up, subscribed, and authorized capital of AED 837,695,625. The Chairman of the Board is H.H. Sheikh Theyab Bin Tahnoon Bin Mohammad Al Nahyan. The external auditor for the company is Grant Thornton Audit and Accounting Limited Corporation (BVI). The company's mailing address is 39th Floor API Trio Tower, Al Barsha 1, P.O. Box 49651, Dubai, UAE, with contact details including a telephone number of +971 4 4270104, a fax number of +971 4 4270103, and an email address at info@gulfnav.com.

Disclosure: Preliminary financial results for the year 2024

2 months ago

The Board of Directors of Gulf Navigation Holding PJSC held a meeting on January 23, 2025. During the meeting, they discussed developments related to the acquisition of companies and assets owned by Brooge Energy Limited. The Board decided to submit recommendations to the Securities and Commodities Authority regarding the valuation and importance of completing the acquisition for the company and its shareholders. Additionally, the Board approved calling a general assembly to discuss and approve the recent developments of the acquisition, contingent upon obtaining approval from the Securities and Commodities Authority. The communication was signed by Nader Muqbel, Investor Relations Director at Gulf Navigation Holding PJSC.

Disclosure: Results of BOD Meeting

3 months ago