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Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: Resolutions of General Assembly

Dubai Taxi Company held its Annual General Meeting on March 19, 2025, at the InterContinental Hotel in Dubai, with options for in-person and electronic participation. The meeting achieved a legal quorum, and the following resolutions were approved by a majority of the votes: 1. Appointment of Mr. Vicken Khochafian as the Secretary for the Meeting and LUMI as the Vote Collector. 2. Approval of the Board of Director’s Report on the company's activities and financial position for the fiscal year ending December 31, 2024. 3. Approval of the independent external auditor’s report for the fiscal year ending December 31, 2024. 4. Approval of the company's balance sheet and profit and loss account for the fiscal year ending December 31, 2024. 5. Approval of the Board of Director’s proposal to distribute cash dividends for the second half of the fiscal year ending December 31, 2024, amounting to AED 122,308,369 (4.89 Fils per share), representing 85% of the net profit for the period. The Board is also authorized to distribute semi-annual dividends for the first half of the financial year 2025 in line with the company's article of association and dividend policy. The last entitlement date for dividends is March 27, 2025, with the ex-dividend date on March 28, 2025, and the record date on April 2, 2025.

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Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Assignment of Acting Chief Financial Officer

On March 19, 2025, GFH Financial Group B.S.C. announced the appointment of Mr. Bhaskar Mehta, the Chief Risk Officer, as the Acting Chief Financial Officer. This appointment follows the departure of Mr. Surya Hariharan from the position of Group Chief Financial Officer. Mr. Mehta will serve as Acting CFO until a permanent replacement is found. The announcement was made by Mariam Jowhary, Head of Compliance and AML.

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Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Assignment of Board Secretary

GFH Financial Group B.S.C. announced the appointment of Mr. Pietro De Libero as the Board Secretary in addition to his responsibilities as the Chief Legal Officer.

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Dubai Financial Market News

News Update From Al Salam Bank B.S.C

Disclosure: Resolutions of General Assembly

Al Salam Bank B.S.C held its General Assembly Meeting on Wednesday, 19 March 2025, from 11:00 am to 12:10 am at The Ritz Carlton, Al Ghazal Hall 3 in Bahrain. The meeting was chaired by H.E. Shaikh Khalid Bin Mustahail Al Mashani. The quorum for the Annual General Meeting (AGM) was 75.43%, and for the Extraordinary General Meeting (EGM), it was 75.51%. Attendance was broken down into 0.06% personal attendance and 75.37% proxy attendance, with electronic voting also being utilized. The meeting included decisions and resolutions from the General Assembly.

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Dubai Financial Market News

News Update From Gulf Navigation Holding PJSC

Disclosure: Resignation of BOD member

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Dubai Financial Market News

News Update From Gulf Navigation Holding PJSC

Disclosure: Cancellation of BOD meeting

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Dubai Financial Market News

News Update From Union Properties PJSC

Disclosure: Invitation of General Assembly

The text is a disclosure regarding the approval of proxies, based on Clauses 1 and 2 of Article 40 of the Corporate Governance Manual. It informs shareholders that they can delegate someone, who is not a board member or company employee, to attend the general assembly on their behalf. The delegated person must have a written authorization stating their right to attend and vote, and they cannot represent more than 5% of the company's issued capital. Shareholders lacking legal capacity must be represented by their legal representatives. The shareholder's signature on the power of attorney must be approved by specific entities such as a notary public, a chamber of commerce, a licensed bank or company, financial markets, or any licensed entity for attestation. The proxy form should include the contact details of the shareholder and the brokerage firm that approved the proxy.

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Dubai Financial Market News

News Update From Dubai Financial Market PJSC

DFM News: Resume trading on EMPOWER shares after disclosing the resolutions of its General Assembly
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Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Press release

The Emirates Central Cooling Systems Corporation PJSC (Empower) held its Annual General Meeting (AGM) in Dubai, with a quorum of 89.9% of the company's paid-up share capital. The AGM approved a cash dividend distribution of AED 437.5 million for the second half of 2024, equivalent to 43.75% of the company's paid-up capital. The meeting, chaired by Saeed Mohammed Al Tayer, reviewed the company's performance, financial statements, and auditor's report for the year ending December 31, 2024. Empower, listed on the Dubai Financial Market since 2022, reported a record revenue of AED 3.26 billion and a net profit of AED 908 million for 2024. The company has committed to an annual payout of AED 850 million during the first two fiscal years post-listing, which was successfully distributed in two installments in 2024. Following this two-year commitment, Empower's shareholders approved annual dividend payments of AED 875 million for 2025 and 2026, to be disbursed in April and October each year.

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Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Resolutions of General Assembly

1. Attached Document