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Mashreqbank PSC, headquartered in Dubai, UAE, has announced a change in the timing of its Board of Directors meeting. The meeting is now scheduled for Wednesday, 11th September 2024, at 9:00 am. The agenda includes reviewing the minutes from the previous meeting held on 25th July 2024, discussing normal business activities, and addressing any other business matters. This information was communicated by Shaima Al Obeidli, Head of Corporate Governance & Group Company Secretary, and a copy was sent to the Securities & Commodities Authority.
Investcorp Capital plc, a provider of capital and capital financing services in the alternative investments space listed on the Abu Dhabi Securities Exchange, announced its fiscal year 2024 results. The company achieved a net profit of $105 million and approved $115 million in dividends, with $60 million already paid, representing a 13% annualized return for public shareholders. Gross operating income was $132 million against $8 million in total operating expenses, resulting in an income to expense ratio of 16.5x. EBITDA grew by 10% to $117 million. Cash-yielding assets under the Capital Deployment segment delivered a 13% return on investment. The Capital Financing Services business deployed $883 million across asset classes, delivering a 9% return on investment, surpassing the target of 8%. The company maintains a solid balance sheet with a diversified portfolio, 70% of which is invested in cash-generating assets. In March 2024, Investcorp Capital closed an $800 million revolving credit facility at a lower cost of capital. Additionally, the company expanded its asset classes to include infrastructure.
Investcorp Capital PLC, previously known as Investcorp Capital Limited, has released its consolidated financial statements for the fiscal year ending June 30, 2024.
On September 9, 2024, the Board of Directors of Investcorp Capital plc held a meeting at the Rosewood Hotel, Al Maryah Island, Abu Dhabi. During this meeting, they approved the company's audited financial statements for the financial year ending June 30, 2024. The meeting was attended in person and began at 3:30 PM UAE time.
Date: 09/09/2024 Ref: L/C/1/9924 To: The Disclosures & Compliance Section Market Operations Surveillance Department Abu Dhabi Securities Exchange P.O Box 54500 - Abu Dhabi - UAE The Securities and Commodities Authority/ Disclosure Department Greetings, Subject: Board of Directors Meeting of The National Investor PrJSC (“the Company”) We wish to inform you that the Company’s Board of Directors will hold a remote meeting on Wednesday, 25 September 2024 at 15:00, to discuss matters related to the Company’s business operations. The results of the meeting will be disclosed as it is held. Sincerely, Rami Hurieh Managing Director
On September 9, 2024, OCI Global (Euronext: OCI), a major global producer and distributor of hydrogen products, announced that it has reached an agreement to sell 100% of its equity interests in its Global Methanol Business. The transaction is expected to close in 2025, pending antitrust regulatory approvals, customary closing conditions, and OCI shareholder approval. As part of this transaction, Alpha Dhabi Holding PJSC will exit its 11% equity stake in OCI's Global Methanol Business, known as OCI Clean Fuels Limited.