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Threads on regulatory news from companies
Threads on regulatory news from companies
Islamic Arab Insurance Company (SALAMA) has entered into a subscription agreement with Eshraq Investments, a related party, involving a deal that constitutes 14% of SALAMA's capital. Under this agreement, Eshraq will subscribe to Mandatory Convertible Sukuk (MCS) valued at AED 66,825,000, issued by Amana SPV Ltd, a special purpose vehicle in Abu Dhabi Global Markets. These MCS will be mandatorily exchanged and converted into new SALAMA shares at a conversion price of AED 0.46 per share upon SALAMA's exercise of this right, pending necessary regulatory approvals. The MCS are non-tradable and non-transferable.
The text provides information to shareholders about the process of proxy approval as per the Corporate Governance Manual. Shareholders who have the right to attend the general assembly can delegate someone, not affiliated with the company's board, staff, or a securities brokerage company, to attend and vote on their behalf. A proxy cannot represent more than 5% of the company's issued capital. Legal representatives must represent those lacking legal capacity. The shareholder's signature on the power of attorney must be approved by a Notary Public, a commercial chamber, a licensed bank or company with which the shareholder has an account, or any licensed attestation entity. The proxy form should include the shareholder's and brokerage firm's contact details and must adhere to approved signature requirements. For further inquiries, shareholders can contact the provided email address.
Emirates NBD completed the distribution of AED 6.3 billion in annual dividends to shareholders on March 2, 2026, reflecting the bank's strong financial standing. Following a record financial performance in 2025, an ordinary dividend of 100 fils per share was approved at the 19th General Assembly Meeting on February 17, 2026. The bank reported a record profit before tax of AED 29.8 billion for 2025 and achieved a milestone with total assets exceeding AED 1 trillion, driven by a record lending growth of AED 129 billion. This growth highlights Emirates NBD's strategic success in expanding its market share in the UAE and other core markets. The bank's financial strength supports its strategic objectives and maintains operational stability, providing clarity and confidence to the market and investors.