Ithmaar Holding B.S.C

Ithmaar Holding B.S.C. has announced ongoing discussions with GFH Financial Group B.S.C. regarding the acquisition of Ithmaar's financing and investment portfolios. These negotiations are subject to regulatory approvals, and shareholders will be regularly updated on any further developments.

The document is the condensed consolidated interim financial information for Ithmaar Holding B.S.C. as of 30 September 2024.

Ithmaar Holding B.S.C. has prepared this report following the SCA Board of Directors’ Decision No. (32/R.M.) of 2019, which requires companies with accumulated losses of 20% or more of their paid-up capital to disclose this information. Companies must comply with additional provisions when losses reach 50% or more. As of Q3 2024, Ithmaar Holding's accumulated losses amount to USD 837.65 million, equating to 111% of its paid-up capital. The losses, which began appearing in December 2016, were initially due to impairment provisions from non-core investments during financial crises. Subsequent increases were influenced by the adoption of FAS30 in 2018, the economic impact of COVID-19 in 2020, and various net losses and profits in the following years. The Board of Directors is implementing initiatives like asset sales and restructuring plans to improve capital and strengthen the company's equity.

Ithmaar Holding B.S.C. announced that its Board of Directors approved the financial results for the period ending September 30, 2024, during a meeting held on Wednesday, November 13, 2024, at 1 PM.

Ithmaar Holding B.S.C. has announced ongoing discussions with GFH Financial Group B.S.C. regarding GFH's potential acquisition of Ithmaar's financing and investment portfolios. The negotiations are subject to regulatory approvals, and shareholders will be regularly updated on any further developments.

Ithmaar Holding B.S.C. announced that its Board of Directors will review and approve the financial results for the period ended 30 September 2024 on Wednesday, 13 November 2024, at 1:00 PM. This announcement is addressed to Bahrain Bourse and Dubai Financial Market.

Ithmaar Holding B.S.C. has announced that discussions and negotiations are ongoing with GFH Financial Group B.S.C. regarding GFH's potential acquisition of Ithmaar’s financing and investment portfolios. This acquisition is subject to regulatory approvals. Shareholders will be regularly updated on any further developments.

ITHMAAR HOLDING B.S.C. has released its condensed consolidated interim financial information for the period ending on 30 June 2024.