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Resolution No. 476 of 2024 temporarily suspends the trading of shares of Sudatel Telecommunications Group Company Limited due to their failure to submit their financial statement. The suspension begins on August 15, 2024, and will remain in effect until further notice. The resolution mandates that all department heads at ADX execute this decision within their respective fields. It also requires that the resolution be circulated to the SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution has been approved by the authorized person and was issued on August 15, 2024.
Amanat Holdings PJSC reported a 17% increase in revenue to AED 433 million for the first half of 2024, driven by a 26% rise in the Education sector. EBITDA grew by 1% to AED 154 million, or 8% on an adjusted basis, with Education up by 18% but offset by a decline in Healthcare due to a prior year one-time gain. Net profit before tax and zakat increased by 2% to AED 101 million, or 13% excluding the prior year's gain. The company maintains a significant cash balance of AED 480 million with low leverage. The board has approved an interim dividend of AED 75 million. Key operational highlights include the addition of over 3,000 students and beneficiaries in Education, and the opening of new centers by Human Development Company (HDC).
Americana Restaurants International PLC, located at Al Sarab Tower in Abu Dhabi, UAE, announced the completion of a share buyback transaction. The buyback was approved by the Abu Dhabi Securities Exchange (ADX) on May 9, 2024, and by the company's AGM on April 24, 2024. The transaction, conducted through International Securities LLC, involved the repurchase of 2,000,000 shares at an average price of AED 2.726 per share on August 15, 2024. To date, the company has bought back a total of 6,380,733 shares, with 18,619,267 shares remaining to be purchased. The announcement was signed by Saqib Muhammad Sabir Awan, the Authorized Signatory and Secretary of the Board.
The General Assembly meeting of HAYAH Insurance Company has been postponed until the necessary regulatory approval is obtained. The new date for the meeting will be announced later.
Fujairah Cement Industries (P.J.S.C) has announced the opening of nominations for membership on its Board of Directors. Shareholders who meet the necessary conditions can submit their applications from August 19, 2024, to August 28, 2024, at the company's head office in Dibba, Fujairah. Applicants must include an introductory profile and specify the type of directorship they are seeking (Executive, Non-Executive, or Independent). Only one board member will be elected. Nominees must comply with the Federal Decree-Law No. 32 of 2021 and the SCA Board of Directors Decision No. 3/CH of 2020, along with the company's Articles of Association. The list of candidates will be published on August 30, 2024, and the Securities and Commodities Authority will be informed of the candidates' names after the nomination period closes.