National Marine Dredging Co.

National Marine Dredging Co.

NMDC

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National Marine Dredging Co.

Logotype for National Marine Dredging Co.
Ticker/ISIN
NMDC
AEN000401010
Market/Country
Abu Dhabi Stock Exchange
United Arab Emirates

About National Marine Dredging Co.

To carry out various aspects of marine dredging operations.

Latest Pressrelease Summaries from National Marine Dredging Co.

NMDC Group PJSC is participating in tenders worth AED 76 billion, in addition to existing contracts valued at AED 70 billion by the end of Q3 2024. During the Abu Dhabi International Petroleum Exhibition and Conference, NMDC Energy, a subsidiary, highlighted its innovations in the energy sector, which contributes 50% to the group's revenue and 60% to its total contracts. CEO Eng. Yasser Zaghloul discussed the group's flexible investment strategy, noting AED 2 billion invested in assets over the past two years, representing 33% of total assets. The group is focusing on geographical expansion, innovation, and listing subsidiaries on stock markets. NMDC Group and Vingroup have signed an MOU to explore collaboration on large-scale, environmentally sustainable projects in Vietnam, aiming to create jobs and support economic growth in coastal regions.
The NMDC Group, formerly known as the National Marine Dredging Company, has been awarded a contract by Ta’ziz for engineering, procurement, and construction (EPC) works on the Logistic Project – Port Package. The project is valued at over USD 300 million and is expected to be completed within 25 months.
NMDC Group PJSC, previously known as National Marine Dredging Company PJSC, has released its report and condensed consolidated interim financial statements for the nine-month period ending on September 30, 2024. These statements are unaudited.
The Abu Dhabi Securities Exchange received a notification that NMDC Group PJSC has been awarded a new project. The project, valued at AED 5,050,000,000, involves marine dredging, reclamation, and ground improvement works for Modon Company in Abu Dhabi. The information was also shared with the Securities and Commodities Authority.
The General Assembly Meeting of NMDC Group PJSC was held on Thursday, 29 August 2024, from 3:00pm to 3:30pm at the company's head office in Mussafah, Abu Dhabi, with virtual participation. The meeting was chaired by H.E Mohamed Al Hammadi, Vice Chairman of the Board of Directors, and had a quorum of 90.2%, all through electronic voting. The following ordinary resolutions were approved: entering a transaction with a related party involving the purchase of commercial land plots in exchange for shares in a subsidiary, authorizing the Board of Directors or their designee to implement the resolutions, and appointing Mr. Abdulla Mohamed Ahmed Al Suwaidi as a board member to complete the term of his predecessor.
NMDC Group is set to list its wholly owned subsidiary, NMDC Energy, on the Abu Dhabi Securities Exchange (ADX) following an initial public offering (IPO) of 1.15 billion shares at AED 2.8 per share. The IPO aims to raise up to AED 3.22 billion and will run from 30 August 2024 to 4 September 2024, with the listing scheduled for 11 September 2024. First Abu Dhabi Bank PJSC is the lead manager, with other banks participating in the IPO. NMDC Energy, established in 1973 and formerly known as the National Petroleum Construction Company, provides engineering, procurement, and construction services in the energy sector, primarily operating in the UAE, Saudi Arabia, Kuwait, and Taiwan. The company has completed over 1,200 projects and owns significant stakes in various engineering firms.
The Abu Dhabi Securities Exchange's Market Operations & Surveillance division has been informed that the Board of Directors of the National Marine Dredging Company PJSC will issue a resolution by circulation at 6pm on Thursday, 8 August 2024. The resolution will consider offering a portion of NMDC Energy PJSC’s shares (formerly known as National Petroleum Construction Company NPCC) for public subscription. This communication is signed by Yasser Nassr Zaghloul, Group Chief Executive Officer, and a copy has been sent to the Securities and Commodities Authority (SCA).
On 2 August 2024, the Board of Directors of the National Marine Dredging Company PJSC issued a written resolution by circulation. The resolution invites the General Assembly of the company to convene on a date to be agreed upon with the Securities and Commodities Authority (SCA) to consider a related party transaction. This consideration will occur after completing the necessary valuations by an independent valuer as required by applicable regulations. The Board has decided to defer its consideration of the formation until a later date. The company will disclose the date of the General Assembly and its agenda to the market once it is approved by the SCA.

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News Update From National Marine Dredging Co.

Disclosures: National Marine Dredging Co. Announcement of Board Meeting to be held on 14/12/2023 at 16:00

The Board of Directors of the National Marine Dredging Company PJSC will hold a meeting on Thursday, 14th December 2023 at 4pm at the company's offices. The meeting will discuss general matters related to the company's activities and its projects. This information was disclosed by the Group Chief Executive Officer, Eng. Yasser Nassr Zaghloul, to the Abu Dhabi Securities Exchange and a copy was sent to the Securities and Commodities Authority (SCA).

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News Update From National Marine Dredging Co.

Disclosures: NMDC Group - Appointment of CEO, Dredging and Marine Platform

The Abu Dhabi Securities Exchange has announced the appointment of Mr. Cornelis Adriaan De Bruijn as the CEO of the Dredging and Marine Platform within the NMDC Group. This information is disclosed as part of the company's commitment to transparency and regulatory compliance. A copy of the announcement has also been sent to the Securities and Commodities Authority.

1. Attached Document

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News Update From National Marine Dredging Co.

Disclosures: National Marine Dredging Co. Board Meeting Results held on 17/11/2023 at 16:00

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Disclosures: National Marine Dredging Co. New Project -Aramco # 128

The National Petroleum Construction Company (NPCC), a subsidiary of the National Marine Dredging Company, has been awarded a project by Saudi Aramco. The project involves the replacement of an offshore subsea trunkline of approximately 67 kilometers. The total value of the award is around USD 520 million.

1. Attached Document

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News Update From National Marine Dredging Co.

Disclosures: National Marine Dredging Co. New Project -Aramco 136#137

The National Petroleum Construction Company (NPCC), a subsidiary of the National Marine Dredging Company, has been awarded two projects by Saudi Aramco. The projects, part of the Arab Medium facilities upgrade scheme, involve the fabrication and installation of 11 slipover production decks modules and nine structural jackets, as well as the installation of eight subsea pipelines and 22 15 kV subsea cables. The total value of the awards is approximately USD 1.3 billion.

1. Attached Document

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News Update From National Marine Dredging Co.

Disclosures: National Marine Dredging Co. Announcement of Board Meeting to be held on 17/11/2023 at 16:00

The Board of Directors of the National Marine Dredging Company PJSC will hold a meeting on Friday 17 November 2023 at 4pm. The meeting, which will be held at the company's offices, will discuss general matters related to the company's activities and projects. The notification was sent by the Group Chief Executive Officer, Eng. Yasser Nassr Zaghloul, to the Disclosures and Compliance Section of the Abu Dhabi Securities Exchange and copied to the Securities and Commodities Authority.

1. Attached Document

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News Update From National Marine Dredging Co.

Disclosures: National Marine Dredging Co. Management Discussion and Analysis Report for the Period Ended September 30,2023

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News Update From National Marine Dredging Co.

Disclosures: National Marine Dredging Co. Financial Results for the Period Ended September 30,2023

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News Update From National Marine Dredging Co.

Disclosures: National Marine Dredging Co. Board Meeting Results held on 19/10/2023 at 16:30

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News Update From National Marine Dredging Co.

Disclosures: National Marine Dredging Co. By Circulation of Board Meeting to be held on 19/10/2023 at 16:30

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