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Amanat Holdings PJSC has completed the sale of its education real estate asset for AED 453 million, generating a net cash return of AED 294 million. The asset, which includes the real estate of North London Collegiate School, was originally acquired in June 2018 for AED 360 million, with an additional AED 33 million invested in capital expansion. This sale reflects Amanat's strategy of investing in high-potential assets, growing them, and monetizing them at the right time to benefit shareholders and reinvest in attractive opportunities. The transaction delivered a cash-on-cash multiple of 1.7x and an internal rate of return of 10%. Amanat's Chairman, Dr. Shamsheer Vayalil, emphasized the company's focus on unlocking value and generating superior returns for shareholders. CEO John Ireland highlighted the sale as evidence of Amanat's successful investment model and its positive impact on the company's balance sheet and strategic flexibility.
The Board of Directors of the National Central Cooling Company PJSC (Tabreed) invites shareholders to attend the general assembly meeting on Monday, September 15, 2025, at 11:00 am UAE time. Shareholders can attend in person at the company's headquarters in Masdar City, Abu Dhabi, or virtually through an electronic link, which will be sent via SMS or email after registration. The meeting will cover agenda items including authorizing the chairman to appoint a secretary and a vote collector, and a special resolution to amend Article 30 of the Company's Articles of Association. This amendment allows for annual dividends to be distributed based on the annual general assembly's resolution upon the Board of Directors' recommendation. The company may also distribute quarterly or semi-annual dividends from operating or accumulated profits through resolutions by the general assembly or the Board of Directors, with the Board authorized to implement these decisions.
The Dubai Financial Market has issued the expiry settlement prices for equity futures contracts expiring in August 2025 as of August 21, 2025. The settlement prices for various contracts are listed with their respective series codes, prices in AED, and contract IDs. The announcement can be accessed on the DFM website. It includes a disclaimer noting that the information is subject to change and that the Dubai Financial Market Regulated Derivative Contract Trading Regulation takes precedence in case of any inconsistencies.
A new contract series for Oman Crude Oil Futures, specifically the October 2026 series, will be available for trading starting on August 25, 2025. The contract, identified with the code OMOILV26, will be listed on the Dubai Financial Market and will be delisted on August 24, 2026. Further details can be found on the Dubai Financial Market's website. The information provided is subject to change and should not replace the official Dubai Financial Market Regulated Derivative Contract Trading Regulation, which takes precedence in case of any inconsistencies.
Sukoon Insurance PJSC, based in Dubai, has had its A2 Insurance Financial Strength Rating (IFSR) with a stable outlook reaffirmed by Moody's. This rating reflects Sukoon's strong market position, diversified business profile, robust risk management, and high-quality reinsurance support. The company is noted for its customer service focus, particularly in medical and consumer insurance, and its leading position in commercial insurance. Despite challenging market conditions, Sukoon reported strong financial performance in the first half of the year, with insurance revenue reaching AED 3.1 billion and net profits increasing to AED 192 million. Moody's highlighted Sukoon's effective expenditure control, steady investment income, and profitability, achieving a five-year average Return on Capital of 9.5% and a combined ratio of 94.9% as of 2024. Sukoon's minimal impact from the 2024 Dubai floods underscores its effective risk management and reinsurance strategies. Moody's expects Sukoon's profitability to continue strengthening with ongoing business and geographic diversification.