Press releases, Reports & Disclosures for Takaful Emarat (PSC)

Mohammed Abu Quora, the Chief Executive Officer of Takaful Emarat Insurance PSC, has resigned for personal reasons. His resignation was accepted on October 28, 2024, and will be effective from November 27, 2024.

Takaful Emarat Insurance PJSC has announced a capital increase from AED 25,652,000 to a maximum of AED 185,000,000 through a rights issue, as approved by the General Assembly on 27 February 2024 and 14 June 2024. Shareholders are informed that the record date for this rights issue is set for Friday, 1 November 2024. Any changes to this date will be disclosed on the Dubai Financial Market website. The company will also announce important dates related to the rights issue in the prospectus.

Mones El Madani, an independent and non-executive board member of Takaful Emarat Insurance PSC, has resigned from the company's Board of Directors for personal reasons. The resignation was accepted on October 22, 2024, and became effective on the same date. The announcement was authorized by Mohammed Abu Quora, the Chief Executive Officer, and was documented on October 23, 2024.

The text is a formal announcement regarding the capital reduction and subsequent capital increase of Takaful Emarat Insurance Company. The company completed the necessary procedures to reduce its issued share capital by AED 124,348,000, bringing it down to AED 25,652,000. This reduction was activated on the Dubai Financial Market on the morning of October 21, 2024. Following this, the company plans to increase its capital by AED 185,000,000 and will disclose relevant dates for the rights issue once approved. Shareholders are notified of these developments.

The Securities & Commodities Authority in Abu Dhabi and the Dubai Financial Market have scheduled a meeting for Takaful Emarat Insurance PSC on Tuesday, 22 October 2024, at 4:00 PM via Microsoft Teams. The agenda includes considering the approval of a new Board member to fill a vacant position and discussing business updates and other matters. The meeting details were authorized by Mohammed Abu Quora, the CEO, and documented on 17 October 2024.

The board of directors of Takaful Emarat Insurance PSC held a meeting on Tuesday, 15 October 2024, from 4:00 PM to 4:45 PM. Five board members were present, achieving a quorum of 71%. The meeting included discussions on business updates and other matters. The meeting's decisions and resolutions were documented, with Mohammed Abu Qoura, the Chief Executive Officer, serving as the authorized signatory.