Latest Threads on News from companies

GFH Financial Group B.S.C. announced that it purchased 3,490,000 treasury shares, increasing its total treasury shares from 169,324,950 (4.42% of total issued shares) to 172,814,950 (4.51% of total issued shares) as of April 2, 2025. The board of directors made the purchase decision on March 24, 2025, and it was approved by the relevant authority on February 16, 2025. The average purchase price was USD 0.3025 per share. There are 210,444,433 shares remaining available for purchase. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

The Dubai Financial Market (DFM) announced an adjustment to its Equity Futures Contracts for EMAAR due to a cash dividend payment of AED 1.00 per share approved by EMAAR shareholders. Effective April 3, 2025, the adjustment applies to three EMAAR futures contracts for April, May, and June 2025. The price adjustment involves an adjustment ratio of 0.925, affecting the settlement prices for these contracts. The adjusted prices will serve as the reference prices for trading on April 3, 2025. The announcement is available on the DFM website. The document notes that the information is subject to change and emphasizes that the DFM Regulated Derivative Contract Trading Regulation takes precedence in case of inconsistencies.

The Board of Directors of Alliance Insurance PSC invites shareholders to the Annual General Assembly Meeting on Monday, April 28, 2025, at 11:00 am, held at the company’s head office and remotely. The agenda includes reviewing and approving reports on the company’s activities, financial position, auditors’ report, balance sheet, profit and loss account for the fiscal year ending December 31, 2024, and a proposal for a 30% cash dividend distribution. The meeting will also address the remuneration of the Board of Directors, discharge or non-discharge of board members and auditors, appointment of auditors for 2025, and confirmation of appointments for vacant positions. Shareholders can attend in person or appoint a proxy, with conditions on representation. Registration, attendance, and eVoting details will be shared via SMS one day prior to the meeting. The meeting requires at least 50% of share capital representation for validity, with a second meeting scheduled if necessary. Financial statements and reports are available on the company’s website. For queries, contact details are provided for Dubai Financial Market and Alliance Insurance PSC.

International Financial Advisors Holding Company announced the successful completion of a divestment transaction involving its associate company, IFA Hotels & Resorts, which sold its stake in IFA Hotels & Resorts 1 (Cayman Islands), the owner of Fairmont The Palm, to a hospitality investment fund managed by Arzan Investment Management Company. The transaction was valued at 100 million Kuwaiti dinars. An Amended and Restated Share Purchase Agreement was executed, and procedural formalities for the transfer of shares will be completed in due course. As part of the transaction, the company will gain ownership of units in the investment fund and receive cash consideration. The financial impact on IFA Hotels & Resorts is estimated to be a profit of 8.70 million Kuwaiti dinars. International Financial Advisors Holding Company will realize a share of 43.22% of these profits, amounting to 3.76 million Kuwaiti dinars, which will be reflected in the financial results for the first quarter of 2025.

The Board of Directors of Orient Takaful Company (PJSC) invites shareholders to attend the Annual General Meeting on April 28, 2025, at 11 am. The meeting will take place at the Al Futtaim Building in Dubai and will also be accessible remotely via MS Teams, allowing for online attendance and direct e-voting. The agenda includes reviewing and approving the Directors' and Auditors' reports for the financial year ending December 31, 2024, discussing the company's financial statements, and considering the recommendation not to distribute dividends for 2024. Other items include reviewing the Internal Sharia'ah Supervisory Committee's report, appointing its members for 2025, approving the Corporate Governance Report, discharging the Board and External Auditors from liability for 2024, appointing the Auditor for 2025, approving transactions with related parties, and nominating a new Board member, Mr. Fadi Sabah Ghaleb El Masri, subject to approval. Shareholders can attend in person or delegate representatives, with specific guidelines provided for proxies and corporate representation. Shareholders registered by April 25, 2025, are entitled to vote.