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 informed its shareholders about the approval from the Securities and Commodities Authority to amend certain agenda items for their upcoming General Assembly meeting. The meeting is scheduled for January 2, 2025, at 3:00 PM, and will be held both physically at the Novotel Hotel in Dubai and electronically. The revised agenda includes: 1. Reviewing the details of an acquisition transaction involving a cash and in-kind capital increase through converting mandatory convertible bonds into shares for acquiring companies and assets owned by Brooge Energy Limited. 2. Considering and approving a valuation report by an independent valuer appointed by the Securities and Commodities Authority, which includes calculating the conversion ratio of the convertible bonds into shares. 3. Reviewing and approving the Board of Directors' report and a valuation report justifying the acquisition of the in-kind stake (ownership of shares of the acquired companies) and the payment of the transaction price through issuing new shares to Brooge Energy Limited, valued at approximately AED 448,551,845.

Disclosure: Notification from the company

9 days ago

On 19 December 2024, a letter was addressed to H.E. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority in Abu Dhabi, United Arab Emirates. The letter announced the resignation of Mr. Adel Al Hosani from his position as a Board Member of Gulf Navigation Holding PJSC, effective 18 December 2024. The Board plans to hold a meeting within 30 days to appoint a new Board member to fill the vacant position. The letter was signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.

Disclosure: Resignation of BOD member

20 days ago

The text provides instructions for completing and submitting a proxy form for shareholders of Gulf Navigation Holding Company (PJSC). Shareholders are required to fill out the form, appoint a representative to vote on their behalf at the Annual General Assembly meeting scheduled for January 2, 2025, at 3 PM, and send it along with the necessary documents to the specified email address: CapitalMarketsTeam@adcb.com. The form requires details such as the shareholder's number, contact information, date, and signature, as well as the name and contact details of the financial broker or entity that verified the proxy. The meeting will be held both in-person and virtually.

Disclosure: Invitation of General Assembly

a month ago

The text is a formal communication regarding a resolution to be passed by the Board of Directors of Gulf Navigation Holding PJSC. The resolution, which will address regular matters and any other business of the company, is scheduled to be issued by circulation no later than 10:00 a.m. on Monday, December 9, 2024. The letter is addressed to H.E. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority in Abu Dhabi. It is signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.

Disclosure: Board Decisions by Passing

a month ago

Gulf Navigation Holding PJSC (GULFNAV), a maritime and shipping company listed on the Dubai Financial Market, reported a 26% increase in revenues for the third quarter of 2024, reaching 26 million dirhams and returning to profitability with a net profit of 1.1 million dirhams. This performance was attributed to increased vessel chartering activity, strategic cost management, and improved operational efficiencies. Key financial highlights for Q3 2024 include revenue growth to AED 23.0 million, a shift to an operating profit of AED 2.85 million from a loss of AED 4.89 million in Q3 2023, reduced general and administrative expenses to AED 600 thousand, and slightly lower finance costs of AED 5.77 million. The company reported a strong cash position of AED 210.2 million and total assets of AED 995 million as of September 30, 2024. GULFNAV's growth was driven by strong performance in vessel chartering and higher operating efficiency, positioning it as a resilient entity in the maritime sector. Additionally, non-operating income of AED 1.56 million helped mitigate the impact of finance costs.

Disclosure: Press release regarding financial results for the 3rd QTR of 2024

2 months ago

The text is a formal communication regarding the resignation of Mr. Saif Al Rashdi from his position as a Board Member of Gulf Navigation Holding PJSC. His resignation is effective from Friday, October 25, 2024. The Board will consider approving his resignation and appointing a new Board member at the next meeting scheduled for Monday, October 28, 2024. The letter is signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.

Disclosure: Resignation of BOD member

2 months ago

The text is a formal notification regarding a scheduled Board of Directors meeting for Gulf Navigation Holding PJSC. The meeting is set to take place on Monday, October 28, 2024, at 10:00 AM. The agenda includes regular company matters and any other business deemed necessary. The notification is addressed to H.E. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority, both in the United Arab Emirates. The message concludes with a courteous closing from Nader Muqbel, the Investor Relations Director at Gulf Navigation Holding PJSC.

Disclosure: BOD meeting

3 months ago

The document is a notification regarding an acquisition deal involving Brooge Energy Limited. It references a Board of Directors meeting held on September 25, 2024, where the board approved the acquisition of companies and assets owned by Brooge Energy Limited. The board has recommended the deal for approval by the General Assembly. The company has submitted all necessary documents to the Securities and Commodities Authority (SCA), which is currently reviewing them to protect shareholders' rights. Shareholders and the market will be updated on any developments once the authority's approval is obtained for convening the general assembly. Shareholders are advised to rely only on official sources for information and to contact the Investor Relations Department for accurate details about the deal or the company's activities. The notification is signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.

Disclosure: Notification from the company

3 months ago

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DFM News

News Update From Gulf Navigation Holding PJSC a year ago

Disclosure: Press Release

Gulf Navigation Holding PJSC (GULFNAV) and Scorpio Services Holding Limited (SSH) have established a joint venture called Black Marlin Ship Management & Operation L.L.C, based in Dubai. The partnership will focus on delivering ship management solutions for regional clients, leveraging the capabilities and experience of both companies. The venture will initially operate with eight vessels, four from each partner, and will offer a variety of services to cater to the specific needs of owners across multiple shipping sectors and operating models. The companies aim to improve operational efficiency, fill gaps in domestic maritime services, and provide high-quality services to their clients.

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DFM News

News Update From Gulf Navigation Holding PJSC a year ago

Disclosure: Board Decisions by Passing

1. Attached Document

DFM News

News Update From Gulf Navigation Holding PJSC a year ago

Disclosure: Notification from the Company

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DFM News

News Update From Gulf Navigation Holding PJSC a year ago

Disclosure: Resignation of BOD member

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JohnnyDebt

Commented on FinanceBroAEDs Transaction regarding Gulf Navigation Holding PJSC a year ago

Ahoy FinanceBroAED! I see you've sailed into Gulf Navigation. Risky waters, mate. Keep a weather eye on the horizon. #Financials #Industrials

DFM News

News Update From Gulf Navigation Holding PJSC a year ago

Disclosure: Clarification from the Company

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DFM News

News Update From Gulf Navigation Holding PJSC a year ago

Disclosure: Notification from the Company

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DFM News

News Update From Gulf Navigation Holding PJSC a year ago

Disclosure: Press release regarding financial results for the 3rd quarter of 2023

Dubai-based maritime and shipping company, Gulf Navigation Holding PJSC, has reported a net profit of 35 million dirhams for the first nine months of 2023, a significant increase from the 1.8 million dirhams net profit in the same period in 2022. Q3 2023 saw a 62% growth in net profit, reaching 6.8 million dirhams. However, operating revenue for the first nine months of 2023 was 83 million dirhams, down from 104 million dirhams in the same period last year, due to the sale of a vessel and dry dock operations. Total assets increased by 27% to approximately 1 billion dirhams, and total shareholders' equity rose by 70% to 711 million dirhams. The company also reduced financing costs by 30%. CEO Ahmad Kilani credited the results to cost control measures, growth and expansion strategy, income diversification, and debt cost reduction.

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DFM News

News Update From Gulf Navigation Holding PJSC a year ago

Disclosure: Financial statements for the 3rd QTR of 2023

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DFM News

News Update From Gulf Navigation Holding PJSC a year ago

Disclosure: Results of BOD meeting held by circulation

On October 16, 2023, the Board of Directors of Gulf Navigation Holding PJSC disclosed resolutions by circulation in accordance with principles of transparency and disclosure. The Board approved the financial statements for the financial period ending on September 30, 2023 (Q3 of 2023). The information was communicated to the Chief Executive Officer of Dubai Financial Market, H.E. Hamed Ahmed Ali, by the Board Secretary, Yazan S. Maragha. Copies were also sent to the Securities and Commodities Authority and the BS File.

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