Latest Threads

The National Investor PrJSC has announced a reduction in its capital from AED 285,000,000 to AED 235,000,000, returning AED 50,000,000 to shareholders as the company does not require it. This decision was approved by shareholders during the general assembly on July 12, 2024. Following this, a notice was published for creditors for 30 days, during which no objections were received. To complete the necessary legal procedures and obtain approval from the Ministry of Economy, the company has amended the Effective Date to August 16, 2024, and the Payment Date to August 26, 2024.

ADNOC Drilling Company PJSC held its General Assembly Meeting on Monday, June 24, 2024, at 3 p.m. UAE time, both in-person at their Abu Dhabi location and virtually. Shareholders representing 82.97% of the company's share capital attended. The meeting aimed to discuss and resolve agenda items. Mr. Ahmed Al Raesi attended as a representative of the Securities and Commodities Authority. The meeting was chaired by Mr. Abdulmunim Saif Al Kindy, Vice Chairman of the Board, who confirmed the quorum and welcomed attendees. Mr. Ahmad Ma’abreh was appointed Secretary, and First Abu Dhabi Bank and Lumi were designated as vote collectors. The Secretary then presented the meeting agenda.

AD Ports Group reported a 56% year-over-year (YoY) increase in EBITDA and a 42% growth in total net profit for Q2 2024. Revenue more than doubled to AED 4.18 billion, driven by organic growth in various clusters and acquisitions. Adjusted for mergers and acquisitions, revenue grew by 6% YoY. EBITDA reached AED 1.07 billion, with a margin of 25.6%. Total net profit was AED 439 million, a 42% YoY increase, and 55% YoY when adjusted for the introduction of corporate income tax in the UAE. Net profit after minorities rose by 16% YoY to AED 333 million.

On 12 August 2024, the Board of Directors of Abu Dhabi Ports Company PJSC held a meeting via video conference at 5:00 p.m. During this meeting, the Board approved the financial statements for the second quarter of the financial year 2024 and discussed general matters related to the company's activities and projects. The information was communicated by Emil Pellicer, the General Counsel, with a copy sent to the Securities and Commodities Authority.

The document is a review report and condensed consolidated financial information for Abu Dhabi Ports Company PJSC, covering the six-month period ending on June 30, 2024.

GFH Financial Group B.S.C. announced that its Board of Directors held a meeting on Monday, August 12, 2024, at 2:00 PM Bahrain time. During the meeting, the board discussed and approved the financial results for the second quarter of 2024, ending on June 30, 2024, along with other internal matters. The financial results for the second quarter of 2024 are attached. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group BSC is registered as an Islamic wholesale bank with the Central Bank of Bahrain, under commercial registration number 44136. The registered office is located on the 2nd Floor of Harbor House, Building Number 1436, Block 346, Road 4626, Manama, Kingdom of Bahrain. The contact telephone number is +973 17538538. The board of directors includes: - Abdulmohsen Rashed Alrashed, Chairman (from March 2024) - Ghazi Faisal Ebrahim Alhajeri, Vice Chairman - Hisham Ahmed Alrayes - Ali Murad - Darwish Al Ketbi - Fawaz Talal Al Tamimi - Rashid Nasser Al Kaabi - Yusuf Abdulla Taqi (until March 2024) - Edris Mohd Rafi Mohd Saeed Al-Rafi (until March 2024) - Abdulaziz Abdulhamid Albassam (from March 2024) - Abdulla Jehad Alzain (from March 2024) - H.H Shaikha Minwa Bint Ali Bin Khalifa Al Khalifa (from March 2024) The Chief Executive Officer is Hisham Ahmed Alrayes, and the auditors are KPMG Fakhro. The condensed consolidated interim financial information is dated 30 June 2024.

GFH reported an 11.2% increase in net profit attributable to shareholders for the first half of 2024, totaling US$60.75 million. Total income for the first half of 2024 was US$332.23 million, up 53.7% year-over-year, while earnings per share (EPS) rose 9.7% to 1.70 US cents. For Q2 2024, total income was US$169.26 million, a 52.3% increase year-over-year, with net profit attributable to shareholders at US$33.61 million, up 9.8%, and EPS at 0.94 US cents, up 9.3%. Key highlights include: - Strong double-digit income growth of 52.3% YoY for Q2 and 53.7% YoY for the first half of the year. - Early exit from a joint investment in Citrix with Carlyle, 18 months ahead of the projected timeline. - Al Qasimi becoming a major shareholder and BHM appointed as a market maker for the Group’s shares in UAE markets. - A 154.6% YoY growth mainly from income generated from the sale of real estate assets, including the Group’s investment in Charthouse Bahrain. - Fitch Ratings affirmed the Group’s Long- and Short-Term Issuer Default Ratings (IDR) at 'B', with a Stable outlook on the Long-Term IDR.