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Al Safwa Mubasher Financial Services PrJSC

SFWAMUBASHER
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  • Market: DFM
  • Symbol: SFWAMUBASHER
  • ISIN: AEA006001019
  • Sector: Private Joint Stock Companies (PrJSC)

Company Brief

Country of Origin: United Arab Emirates (U.A.E)

Al Safwa Mubasher Financial Services is a Private Joint Stock Company  established and abiding Federal law no (8) for the year 1984 and its amendments, The Company obtained financial brokerage license from Securities and Commodities Authority in August 5, 2006 under no: (604097). Al Safwa was listed on Dubai Financial Market as a private Joint Stock Company.

The Company main activity is Brokerage in trading securities, Companies Subsidiaries activities are Investment in commercial projects, Investment in industrial projects, Investment in economic projects.

Key Facts

ESTABLISHED

March 6, 2006

AUDITOR

KPMG

FISCAL YEAR END

DECEMBER

REGISTRAR

Al Safwa Mubasher Financial Services PrJSC

Board Members

CHAIRMAN

Mr. Murshed MohamedAhmed Mohamed

DEPUTY

Dr. Khaled Mohamed Alballaa

MEMBERS

Mr. Mossad Farouk

Mrs. Mareyah Mohamed Ahmed Mohamed

Mr. Muneeb Mohamed Ahmed

 

 

 

Top Management

Chief Executive Officer
Mr. Ihab Rashad

Equity Profile

DATE OF LISTING:

Nov 26, 2015

SECTOR:

Private Joint Stock Companies (PrJSC)

AUTHORIZED CAPITAL:

563,841,748.00 AED

ISSUED SHARES:

563,841,748

SHARE PAR VALUE:

1.00 AED

Subsidiaries

Al Safwa Capital L.L.C

UAE

0.36 %

Drake & Scull International (ASIA) LimitedUAE49.00 %
Drake & Scull International LLCOman51.00 %
Drake & Scull SYRIA LLCSyria70.00 %
Drake & Scull InternationalEygpt100.00 %
Drake & Scull InternationalSingapore100.00 %
Drake & Scull International QATAR LLCQatar100.00 %
Drake & Scull International PJSC Jordan Rep OfficeJordan100.00 %
Drake & Scull Construction LLCUAE100.00 %
Drake & Scull Construction SPCBahrain100.00 %
International Centre for ContractingKSA50.00 %
DS Cayman Island No. 3 LimitedCayman Island100.00 %
Drake & Scull British Virgin Island Number One LimBVI100.00 %
Passavant EngineeringBVI100.00 %
DSO Development LimitedCayman Island50.00 %
Drake & Scull Engineering LLCUAE100.00 %
North Africa Structured Equity 1 LtdBVI100.00 %
Drake & Scull International LLC Abu DhabiUAE100.00 %
Drake & Scull International for Electrical ContractingKuwait75.00 %
Gulf Technical Construction Company LLCUAE100.00 %
Drake & Scull International General ContractingLibya65.00 %
Drake & Scull International Bahrain SPSBahrain100.00 %
Drake & Scull Construction KSAKSA99.50 %
Drake & Scull Equipment Trading & Rental LLCUAE99.00 %
Drake & Scull for Contracting Oil & Gas Fields Facilities LLCUAE70.00 %
Emirates Utility LLCUAE99.00 %
Luxury Developments LLCUAE50.00 %
Drake & Scull International (ASIA) LimitedUAE49.00 %
Drake & Scull International LLCOman51.00 %
Drake & Scull SYRIA LLCSyria70.00 %
Drake & Scull InternationalEygpt100.00 %
Drake & Scull InternationalSingapore100.00 %
Drake & Scull International QATAR LLCQatar100.00 %
Drake & Scull International PJSC Jordan Rep OfficeJordan100.00 %
Drake & Scull Construction LLCUAE100.00 %
Drake & Scull Construction SPCBahrain100.00 %
International Centre for ContractingKSA50.00 %
DS Cayman Island No. 3 LimitedCayman Island100.00 %
Drake & Scull British Virgin Island Number One LimBVI100.00 %
Passavant EngineeringBVI100.00 %
DSO Development LimitedCayman Island50.00 %
Drake & Scull Engineering LLCUAE100.00 %
North Africa Structured Equity 1 LtdBVI100.00 %
Drake & Scull International LLC Abu DhabiUAE100.00 %
Drake & Scull International for Electrical ContractingKuwait75.00 %
Gulf Technical Construction Company LLCUAE100.00 %
Drake & Scull International General ContractingLibya65.00 %
Drake & Scull International Bahrain SPSBahrain100.00 %
Drake & Scull Construction KSAKSA99.50 %
Drake & Scull Equipment Trading & Rental LLCUAE99.00 %
Drake & Scull for Contracting Oil & Gas Fields Facilities LLCUAE70.00 %
Emirates Utility LLCUAE99.00 %
Luxury Developments LLCUAE50.00 %
Drake & Scull International (ASIA) LimitedUAE49.00 %
Drake & Scull International LLCOman51.00 %
Drake & Scull SYRIA LLCSyria70.00 %
Drake & Scull InternationalEygpt100.00 %
Drake & Scull InternationalSingapore100.00 %
Drake & Scull International QATAR LLCQatar100.00 %
Drake & Scull International PJSC Jordan Rep OfficeJordan100.00 %
Drake & Scull Construction LLCUAE100.00 %
Drake & Scull Construction SPCBahrain100.00 %
International Centre for ContractingKSA50.00 %
DS Cayman Island No. 3 LimitedCayman Island100.00 %
Drake & Scull British Virgin Island Number One LimBVI100.00 %
Passavant EngineeringBVI100.00 %
DSO Development LimitedCayman Island50.00 %
Drake & Scull Engineering LLCUAE100.00 %
North Africa Structured Equity 1 LtdBVI100.00 %
Drake & Scull International LLC Abu DhabiUAE100.00 %
Drake & Scull International for Electrical ContractingKuwait75.00 %
Gulf Technical Construction Company LLCUAE100.00 %
Drake & Scull International General ContractingLibya65.00 %
Drake & Scull International Bahrain SPSBahrain100.00 %
Drake & Scull Construction KSAKSA99.50 %
Drake & Scull Equipment Trading & Rental LLCUAE99.00 %
Drake & Scull for Contracting Oil & Gas Fields Facilities LLCUAE70.00 %
Emirates Utility LLCUAE99.00 %
Luxury Developments LLCUAE50.00 %
Drake & Scull International (ASIA) LimitedUAE49.00 %
Drake & Scull International LLCOman51.00 %
Drake & Scull SYRIA LLCSyria70.00 %
Drake & Scull InternationalEygpt100.00 %
Drake & Scull InternationalSingapore100.00 %
Drake & Scull International QATAR LLCQatar100.00 %
Drake & Scull International PJSC Jordan Rep OfficeJordan100.00 %
Drake & Scull Construction LLCUAE100.00 %
Drake & Scull Construction SPCBahrain100.00 %
International Centre for ContractingKSA50.00 %
DS Cayman Island No. 3 LimitedCayman Island100.00 %
Drake & Scull British Virgin Island Number One LimBVI100.00 %
Passavant EngineeringBVI100.00 %
DSO Development LimitedCayman Island50.00 %
Drake & Scull Engineering LLCUAE100.00 %
North Africa Structured Equity 1 LtdBVI100.00 %
Drake & Scull International LLC Abu DhabiUAE100.00 %
Drake & Scull International for Electrical ContractingKuwait75.00 %
Gulf Technical Construction Company LLCUAE100.00 %
Drake & Scull International General ContractingLibya65.00 %
Drake & Scull International Bahrain SPSBahrain100.00 %
Drake & Scull Construction KSAKSA99.50 %
Drake & Scull Equipment Trading & Rental LLCUAE99.00 %
Drake & Scull for Contracting Oil & Gas Fields Facilities LLCUAE70.00 %
Emirates Utility LLCUAE99.00 %
Luxury Developments LLCUAE50.00 %
Drake & Scull International (ASIA) LimitedUAE49.00 %
Drake & Scull International LLCOman51.00 %
Drake & Scull SYRIA LLCSyria70.00 %
Drake & Scull InternationalEygpt100.00 %
Drake & Scull InternationalSingapore100.00 %
Drake & Scull International QATAR LLCQatar100.00 %
Drake & Scull International PJSC Jordan Rep OfficeJordan100.00 %
Drake & Scull Construction LLCUAE100.00 %
Drake & Scull Construction SPCBahrain100.00 %
International Centre for ContractingKSA50.00 %
DS Cayman Island No. 3 LimitedCayman Island100.00 %
Drake & Scull British Virgin Island Number One LimBVI100.00 %
Passavant EngineeringBVI100.00 %
DSO Development LimitedCayman Island50.00 %
Drake & Scull Engineering LLCUAE100.00 %
North Africa Structured Equity 1 LtdBVI100.00 %
Drake & Scull International LLC Abu DhabiUAE100.00 %
Drake & Scull International for Electrical ContractingKuwait75.00 %
Gulf Technical Construction Company LLCUAE100.00 %
Drake & Scull International General ContractingLibya65.00 %
Drake & Scull International Bahrain SPSBahrain100.00 %
Drake & Scull Construction KSAKSA99.50 %
Drake & Scull Equipment Trading & Rental LLCUAE99.00 %
Drake & Scull for Contracting Oil & Gas Fields Facilities LLCUAE70.00 %
Emirates Utility LLCUAE99.00 %
Luxury Developments LLCUAE50.00 %

Contact Details

Dubai - Main Office, UAE

Office No. 4901, 49th Floor - Vision Tower - Business Bay

Phone No.

+971 4 524 7555

Fax No.

+971 4 524 7556

PO Box
26730

Email address
admin@alsafwamubasher.ae

Website
www.alsafwamubasher.ae

Showing Last 10 Disclosures - SFWAMUBASHER View all
SFWAMUBASHER 18-10-2018 02:26 AM

Press release

1 File(s)
SFWAMUBASHER 18-10-2018 08:17 AM

Financial statements for the first half of 2018

1 File(s)
SFWAMUBASHER 18-10-2018 08:17 AM

Financial statements for the 2nd QTR of 2018

1 File(s)
SFWAMUBASHER 29-08-2018 03:10 AM

Resolutions of General Assembly

1 File(s)
SFWAMUBASHER 29-08-2018 02:53 AM

Resolutions of General Assembly

1 File(s)
SFWAMUBASHER 14-08-2018 02:14 AM

Invitation of General Assembly

2 File(s)
SFWAMUBASHER 02-08-2018 10:32 AM

Results of BOD meeting

1 File(s)
SFWAMUBASHER 31-07-2018 08:17 AM

BOD meeting

1 File(s)
SFWAMUBASHER 31-07-2018 08:15 AM

Resignation of BOD members

1 File(s)
SFWAMUBASHER 26-07-2018 07:57 AM

Press release

1 File(s)
Showing Last 10 Issuer News - SFWAMUBASHER View all
No data could be found.
Showing Last 10 Financial Reports - SFWAMUBASHER View all
SFWAMUBASHER 18-10-2018 08:17 AM

Financial statements for the 2nd QTR of 2018

1 File(s)
SFWAMUBASHER 29-04-2018 10:55 AM

Financial statements for the year of 2017

1 File(s)
SFWAMUBASHER 30-06-2017 10:30 AM

Financial statements for the 1st half of 2017

1 File(s)
SFWAMUBASHER 01-03-2017 01:04 AM

Financial statements for the year of 2016

1 File(s)
SFWAMUBASHER 30-09-2016 12:14 AM

Financial statements for the 3rd QTR of 2016

1 File(s)
SFWAMUBASHER 30-06-2016 11:37 AM

Financial statements for the 2nd QTR of 2016

1 File(s)
SFWAMUBASHER 10-04-2016 04:30 AM

Financial statements for the year of 2015

1 File(s)
SFWAMUBASHER 01-11-2015 08:32 AM

Financial statements for the year of 2013

1 File(s)
SFWAMUBASHER 01-11-2015 08:29 AM

Financial statements for the 3rd QTR of 2015

1 File(s)
SFWAMUBASHER 01-11-2015 08:26 AM

Financial statements for the year of 2014

1 File(s)
Showing Last 10 General Meetings - SFWAMUBASHER View all
Meeting Date/TimeAug 29, 2018 11:00:00 AMType of MeetingGeneral Assembly
Net Profit/Loss-8,739,821Cash Dividend
Bonus Share
Announcements/Resolutions

1-  Approve the Board of Directors’ Report forthe year 2017.

2-  Approvethe Auditors’ Report for the fiscal 2017.

3-  Approvethe balance sheet and the statements of profit & loss of the company.

 

 

4-   Discharge - KPMG – the externalauditor for the financial year 2017.

5-   Appointment ‘RSM ‘theauditor of the company for the year 2018

6-    Dischargeall members of the Board of Directors


Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting Venuethe Company’s head office, Vision Tower, 49th floor, Business Bay, Dubai
1 File(s)
Meeting Date/TimeJun 25, 2018 10:00:00 AMType of MeetingGeneral Assembly
Net Profit/Loss0Cash Dividend
Bonus Share
Announcements/Resolutions

 

First: Inclusion of New Items tothe Agenda:

 

A number ofshareholders holding more than 10% of the capital submitted a request for theinclusion of new items to the agenda of the General Assembly, and the itemswere presented to the General Assembly to consider whether to include them ornot. The General Assembly approved by the majority of the votes represented atthe meeting to include the items which are as follows:

 

1-  Amend the Company's Articles of Association to decrease the Boardof Directors to 5 members.

2-   Amend the Company's Articles of Association No. 23 ( Executive committee )

3-  Absolve the board of directors

 

 

Second: Resolutions of the GeneralAssembly

1-  Not to absolve the former Manager Director, and not to vacate his responsibility and take legal measuresthat guarantee the rights of the company and theshareholders.

2-  Postpone the adoption of the report prepared by the management inrespect of the activity and the financial position of the company during theyear in addition to the auditor’s report.

3-  Postpone the ratification of balance sheet and the statements ofprofit & loss of the company.

4- The following Board memberswere elected:

 

A.   Dr. Khaled MohamedAlballaa

B.   Mr. Mossad Farouk

C.   Mohammed Abdulla Mustafa Abuzayeda Alhowatat Representative of Mubasher Limited Holding

D.   Mr. Murshed MohamedAhmed Mohamed Representative  of Mubasher Limited Holding

E.   Mrs. Mareyah MohamedAhmed Mohamed Representative  of Mubasher Limited Holding

F.   Mr. Muneeb Mohamed AhmedRepresentative of Mubasher Limited Holding

G.   Mr. Rashid MohamedAlballaa Representative  of Direct Broker

H.   Mr. Ali Mohamed AlballaaRepresentative of Direct Broker

I.     Mr. Ali Khaled RashidAlballaa Representative  of Direct Broker

 

 

5-   Postpone absolving KPMG fromliability

6-   Postponement of theappointment of the auditor of the company for the year 2018

7-   Approvethe amendment of the company’s Articles of Association No. 19 to be:

The company is managed by a Board of Directors consisting of five members andfor a period of three years

8-   Approvethe amendment of the Company's Articles of Association No. 23 to be:

-      TheBoard of Directors may form an executive committee of the company, it shallconsist of three members (Chairman and two members), and shall be held in thepresence of two member (the chairman one of them). And may grant some of itspowers and delegate them or others as he deems appropriate powers in thematter. In all cases, the Board may, at any time, to replace any member of theCommittee as the Board deems fit.

9-    Delay the decision to absolve allmembers of the Board of Directors until the next General Assembly.

10-  Invite the Board of Directors to be held on 28June 2018 to start their duties.  

 

 


Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting Venueالمقر الرئيسي للشركة الكائن في دبي- الخليج التجاري – برج الرؤية – الطابق 49
1 File(s)
Meeting Date/TimeMay 03, 2018 04:30:00 PMType of MeetingGeneral Assembly
Net Profit/Loss- 7,750,909 Cash Dividend
Bonus Share
Announcements/Resolutions

Resolutions adopted bythe shareholders at the AlSafwa Mubasher General Assembly Meetings that washeld in The Address boulevard hotel, Dubai, UAE. following the announcement ofthe availability of the legal quorum required to hold the General Assembly meeting,which reached 89.5% of the capital.

 

Resolutions of theGeneral Assembly

 

1-Authorize the nextBoard of Directors to study the report submitted by Prestige /Saadi and reviewthe misinformation that it has contained and to take actions based on that.


2-Revoke the proposal toreduce the shareholding of (Mubasher Company) of the company's capital.


3-Postpone theratification of the Board of Directors' report.

4-Postpone the ratification of auditors' report.

5-To send the financial statements back to the Board of Directors to addressthe reasons for the qualified report and to invite for another General Assemblyafter solving the reasons of the reservations.

6-To postpone the decision to absolve the auditors for the fiscal year 2017until the next GA meeting.


7-Postponement of theappointment of the auditor of the company for the year 2018 until the next GAmeeting.


8-To approve the reportof the Shari'a Supervisory Committee of the Company for the year ended 2017.

9-To approve the appointment of the following members in the Shari'aSupervisory Committee for 2018: -Dr. Amin Fatih -Sheikh / Mahmoud Samaida.

10-Dismissal of Mr.Ali Alsada from the Board of Directors

11- Dismissal of Dr. Yacoub Ali Al-Naqbi as a Board of Directors member and theManaging Director and not to absolve him until the GA considers the rest of themembers.


12- To suspend all theauthorities of Dr.Yaqoub Ali Al-Naqbi with no exceptions, and refer him in hiscapacity as executive director to an investigation committee to investigate allpotential violations. The committee should submit its report to the GeneralAssembly on 31 May 2018. Also, an agenda item to be add to the upcoming GeneralAssembly to discuss the investigation report and take action about it.

13- Reappointing Mr.Ihab Rashad to serve as Acting CEO for the duration of the suspension of Dr.Yaqoub Al Naqbi until a final decision is taken regarding the position of theCEO by the completed Board of Directors, after the election of missing membersin all vacant positions.


14-Due to the number ofthe remaining members of the Board of directors, the General Assembly instructsthe Board of Directors to refrain from taking any non-emergency decisions whichare not related to the smooth conduct of the company's daily business until theappointment of the vacant positions in the Board of Directors is completed bythe General Assembly.


15. Transfer the reportfrom the “Alnoor” Auditors to the financial management department in thecompany to present a report to the newly appointed Board of Directors. TheBoard of Directors shall submit its recommendations to the next GeneralAssembly.


16. Approving theamendment of Article 26 of the Company's Articles of Association as follows:

"The Board ofDirectors shall meet with an invitation of the chairman of the board or ofthree members of the Board of Directors and shall be allowed to participate inthe meetings of the board through the means of modern technology, and the Boardof Directors may pass some of its decisions by circulation”.


17. emphasize the callfor the General Assembly meeting on 31st May 2018, or, if not possible, in 7thof June 2018 to elect members in the vacant positions and to add a point to theagenda to the effect of “electing members to fill vacant board of directors’positions”


18.mandate the Chairmanof the Board of Directors of Alsafwa Mubasher to call for the General Assemblymeeting on May 31st 2018 or June 7th 2018 to elect vacant Board of Directors’positions and take all necessary steps to open and call for nomination tofulfill those positions according to the laws and regulations that regulatethis matter within a week of this decision. And in the situation that this nothappen, the company’s Auditor is mandated to call for the General Assemblymeeting on either of those dates on the company’s expense.


19. Confirmation of theresignations submitted by Mr. Khalifa Khoury, Eng. Mohamad Al-Ballaa and Dr.Khaled Al-Ballaa and to reaffirm the vacancy of their board of directors’positions. 


20. Approval of theamendment of Article 19 of the Articles of Association of the company tobecome:

"The company ismanaged by a board of nine persons and for three years."


21. Delay the decisionto absolve all members of the Board of Directors until the next GeneralAssembly.

 

 

 

 


Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueThe Address boulevard hotel
1 File(s)
Meeting Date/TimeMar 13, 2017 05:00:00 PMType of MeetingGeneral Assembly
Net Profit/Loss0Cash Dividend
Bonus Share
Announcements/Resolutions

1. Approval of the amendment of Article (19)

 

2. Approving of the amendment of Article (23)

 

3. Approving on The report of the Board of Directors for the year ended 2016

 

4. Approving on The auditor's report for the fiscal year ended 2016.

 

5. Auditors were absolving for the fiscal year 2016.

 

6. Appointing (KPMG) as Company External Auditors for the year 2017 and with a fee of AED 150 Thousands.

 

7. Approving of  Shari'a report Committee of the Company for the year ended 2016.

 

8. Approving of the appointment of the following members in the Shari'a Committee for the year 2017:

Dr. Amin Fatih

- Sheikh Mahmoud Samaida.

 

9. Absolving Board of Directors' for the year ended 31 December 2016.

 

10. Electing the Company New Board of Directors from the following seven members:

 

Name

S

SHAIKH ABDULAZIZ HUMAID RASHD ALNOAIMI

1

SHEIKH MOHAMMED BIN ALI BIN RASHID ALNUAIMI

2

Eng .MOHAMED RASHEED ALBALLAA

3

ALI HUSSAIN ALSADA

4

KHALIFA YOUSIF ABDULLA HUSAIN ALKHOORI

5

Dr. YAQOUB ALI SAEED KHALAF ALNAQBI

6

KHALID MOHAMMED ALBALLAA

7


Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueAddress Mall Dubai
1 File(s)
Meeting Date/TimeApr 21, 2016 12:00:00 AMType of MeetingAnnual General Meeting
Net Profit/Loss(2,482,021)Cash Dividend
Bonus Share
Announcements/Resolutions
1-Approved Board of Directors Report on the activities of the co. for the year ended 2015
2-Approved of Auditors  Report for the year ended 2015
3-Released the members the Auditors for the year ended 2015. 
4-Reappointed M/S KPMG as the auditors for the year 2016 and for (90) thousands agreed fees .
5- Approved Sharia Report for the year ended 2015
6- Approved the appointment of the following members for Sharia’s Committee for the year 2016 as follows :-
1- Dr. Amin Fateh
2- Shk Mahmoud Somaida
7-Released the Members of the Board from Liability for the year 2015.

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueDubai
1 File(s)
Meeting Date/TimeJan 21, 2016 10:00:00 AMType of MeetingAnnual General Meeting
Net Profit/Loss(2,482,021)Cash Dividend
Bonus Share
Announcements/Resolutions

-Merging with Mubasher Financial services company(l.l.c) was approved by annexation, as the evaluation report dated 9/12/2015  as per the evaluation done by "KPMG"who was appointed by the parties to issue its report as at 31/12/2014, that the value of  Mubasher Financial Services company after merging  in new company the value will be  "AED" 434 million  with percentage of 77%, and the value of Al Safwa Islamic Financial Services after merging process in new company will be  129,841,748 with percentage of (23)%, and total value of the two companies will be  AED 563841748, and merger agreement was approved.

-Approving the increase of Company's capital by AED (434) Million from AED (129,841,748) to become AED 563841748 by new issuing  new shares for beneficiary of Mubasher Financial Services Company (L.L.C) total (434) million shares, with value per share (1) AED.

-Board of Directors was authorized by the, take all necessary action regarding the merging , to sign a contract and apply for DFM inserts new stock, and any other action required to complete the integration process.

-Approval of  amended articles of association as follows :-

Article (2) in the article of association to be as follows:-

Company name is Al Safwa Mubasher Financial Services (PJSC)

Article (3) in the article of association to be as follows:-

Main office

Company head office and legal site of headquarter is in the Emirate of Dubai  

And it Board of Directors are allowed to establish branches or offices or agents in UAE or out UAE.

Article(5) in the article of association to be as follows:-

The purposes for which the company established :

 Brokerage activity in securities and Skuk, and any other activities approved by the Securities and Commodities authorities , for example, financial consulting and financial analysis and investment management and investment funds and portfolios fulfilling the requirements in order to obtain approval  and licenses to practice those activities.

Article(8) in the article of association to be as follows:-

Company's capital was increased by AED (434) Million , from AED (129,841,748) to AED (563841748), by issuing new shares total (434) million shares, value per share AED( 1).

Article (23) in the article of association to be as follows:-

Board of Directors are authorized to  compose among its members an Executive Committee and it consist of four members and committee held is correct in the presence of  committee President and at least two members, and may also grant certain authorization and functions to other as it sees fit with delegating.

Article (26) in the article of association to be as follows:-

Board  of Directors meeting  will be held on the invitation of the Chairman or his Deputy and two members of the Board of Directors, and participation in meetings through modern technology approved by SCA are allowed, also it is accepted that  board of Directors will issue  resolutions by circulation.

Article (41) in the article of association to be as follows:-

Board of Directors must invite General Assembly meeting when it is requested by  shareholder or more own shares representing(20)% of the capital at least, and must sent the invitation within five days from the date of submitting the request ,General Assembly should be held within a period of not less than fifteen days and not more than thirty days from the date of the invitation to the meeting.

Article (42) in the article of association to be as follows:-

Request mentioned in article (41) must be deposit at the Head Office of the company,indicating the purpose of the meeting and the issues to be discussed, and shareholder will submit a certificate from Dubai Financial market in which the company's shares are listed mention the prohibition of owned shares by him at his request until the General Assembly meeting will be held.

Article (45) in the article of association to be as follows:-

1-The company's General Assembly resolutions should be issued by a majority of the shares represented at the meeting.

2-General Assembly resolutions are issued according to the provisions of this law and the company discipline and it is obligatory to all shareholders, both were present at the meeting or absent and whether they agree on them or their opponents.

Article (46) in the article of association to be as follows:-

A Sharia’ Committee is formed in the company of two members, overseeing the company's transactions and dispositions and matching trades to Sharia, it is hired by the shareholders at the annual General Assembly, and Sharia members  allowances will be determined by the

Article (19) in the article of association to be as follows:-

The company is managed by a Board of directors consists of eleven members and at least nine members elected by the General Assembly for three years.

Board of Directors .

Article(58) in the article of association to be as follows:-

The company should be resolved by resolution of  General Assembly to terminate Company period.

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueHilton Sharjah
1 File(s)
Top ShareholdersLast Refreshed at: 11 December 2018

Individual Investors

ShareholdersPercentage
مباشر القابضه المحدوده 47.45%
شركه الوسيط المباشر 29.52%

No data could be found.
Foreign Investments View all
National GCC Arab Foreign
Country of Origin Actual Permitted Actual Permitted Actual Permitted Actual Permitted As of Date:
UAE 11.73% 100% 87.35% 100% 0.92% 49% 0% 49% 11-12-2018
Showing Last 10 Corporate Governance Reports - SFWAMUBASHER View all
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No data could be found.
Disclaimer
  • Ownership percentage is subject to change based on several reasons including the following:
    1. Trading activity.
    2. Off-Market Transactions such as family and inheritance transfers.
    3. Changes in the nationality status of investors.
    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.
    5. Capital increase by issuing new shares to a strategic investor.
    6. Converting Bonds into shares.
    7. Equity added to the equity of the associated group.
    8. Direct Deals.

 

Percentages are updated daily after 4 pm
Disclaimer
The above published Ownership Percentages:
  • Are updated daily at the end of every trading day based on date of trade and not settlement date.

  • The ownership percentages are rounded off to 2 decimal places

  • Ownership percentages are subject to change due to the following:

    1. Trading activities.

    2. Off-Market Transactions such as family and inheritance transfers.

    3. Changes in the nationality status of investors.

    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.

    5. Capital increases, by issuing new shares to Strategic investor

    6. Converting bonds or Sukuk into shares.

    7. Changes of associated group’s ownership.

    8. Direct Deals. (The ownership percentage is changed immediately after the execution of the deal).

    9. Failed trade settlement.


DISCLAIMER

The information provided in this document is only available in Arabic due to the (Dubai court attestations only being in Arabic herein after referred thereto as (“Information”) is provided by way of general information and comment only. While reasonable care has been taken in producing this Information, changes in circumstances may occur at any time and may impact on the accuracy of the Information. The Information does not constitute professional advice or provision of any kind of services and should not be relied upon as such.  Dubai Financial Market (“DFM”) and/or its affiliates, officers or employees,  does not give any warranty or representation as to the accuracy, reliability, timeliness or completeness of the Information now or in the future. DFM shall not be liable for any loss suffered, directly or indirectly by any person acting in reliance upon the Information contained herein. 


DISCLAIMER

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