Management Decisions

(Photo credit: Arabianeye-Reuters)
27 March 02:31 PM NBO’s OGM nods to dividends, bonus shares
Mubasher: The annual ordinary general meeting (OGM) of the National Bank of Oman (NBO) approved distributing cash dividends and bonus shares to shareholders for 2016, according to the bank’s statement. The proposed cash dividends represent 15.92% …
Photo Credit: Arabianeye-Reuters
26 March 08:36 PM Golden Pyramids Plaza BOD approves capital hike
Cairo - Mubasher: The board of Golden Pyramids Plaza has approved raising the company’s capital by EGP 38.5 million to $577, paid by old shareholders through subscription. The company said in a statement to the Egyptian Exchange (EGX) on Sunday, …
The reduction will be through the cancellation of 2.9 million shares - (Photo Credit: Arabianeye-Reuters)
22 March 04:48 PM Asharqiyah Development BOD recommends 39% capital cut
Riyadh - Mubasher: Asharqiyah Development announced that its board of directors (BOD) has recommended to reduce the company's capital by 38.80% from SAR 75 million to SAR 45.9 million. The number of shares before the cut will be reduced from 7.5 …
Al Maha achieved annual profits of OMR 8.75 million in 2016 (Photo credit: Company website)
21 March 11:47 AM Al Maha OGM approves 100 baisas/shr dividends
Mubasher: Al Maha Petroleum Products Marketing Company's ordinary general meeting (OGM) on Monday approved the board's proposal of distributing a cash dividend representing 100% of its capital and amounting to 100 baisas per share. The company has …
(Photo credit: Arabianeye-Reuters)
20 March 06:03 PM Aldar OGM approves 11 fils/shr dividends
By: Ramy Sameeh Abu Dhabi- Mubasher: Shareholders at Aldar Properties on Monday approved distributing cash dividends representing 11% of the company’s capital for 2016, at 11 fils per share. Total value of the distributions amounts to AED 865 …
Bonds will be converted at a price of 362 baisas per bond - (Photo Credit: Company website)
20 March 04:38 PM Bank Muscat to convert bonds to shares at OMR 32m
Mubasher: Mandatory convertible bonds are scheduled to be converted into shares at a value of OMR 31.964 million starting Sunday, Bank Muscat said in a bourse statement. Bonds, issued in 2014, will be converted at a price of 362 baisas per bond, …
Photo Credit: Arabianeye-Reuters
20 March 04:20 PM Wafa Insurance BOD recommends 40% capital cut
Riyadh - Mubasher: The board of Saudi Indian Company for Cooperative Insurance (Wafa Insurance) has recommended reducing the company’s capital by 40.49% from SAR 205 million to SAR 122 million. The capital will be reduced by 1.215 shares for every …
(Photo archive)
20 March 10:11 AM CCHI suspends Solidarity for violating regulations
Riyadh – Mubasher: Saudi Arabia’s Council of Cooperative Health Insurance (CCHI) suspended Solidarity Saudi Takaful as of Monday for violating regulations. The suspension was due to breaches in selling the CCHI policies and violations of the …
(Photo archive)
19 March 08:45 AM Tadawul suspends trading on Solidarity for 2h on Sunday
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) took actions regarding the decrease of Solidarity Saudi Takaful's accumulated losses below 50%. Tadawul removed the accumulated losses flag mark from the exchange website, according to a bourse …
(Photo Credit: Arabianeye-Reuters)
16 March 10:49 AM SEC adopts updated financial policies
Riyadh – Mubasher: Saudi Electricity Co’s (SEC) board approved on Wednesday the updated financial policies to prepare the financial statements as per the International Financial Reporting Standards (IFRS). The conversion to IFRS raised the …
(Photo Credit: Company website)
15 March 04:27 PM Northern Cement hires new board chairman
Riyadh – Mubasher: Northern Region Cement Company has appointed Sulaiman bin Salim Al-Harbi as the board’s chairman. The board also assigned the role of the deputy chairman to Raed Ibrahaim Al Mudieheem, according to a bourse filing on Wednesday. …
(Photo Credit: Arabianeye-Reuters)
15 March 12:30 PM Raysut Cement OGM approves 65 baisas/shr dividend
Mubasher: Shareholders at Raysut Cement Company on Tuesday approved the board’s recommendation to distribute cash dividends of 65 baisas per share for 2016. The cash distribution represents 65% of capital, the company said in its statement …
(Photo Credit: Arabianeye-Reuters)
15 March 12:03 PM CIB shareholders OK EGP 0.5/shr dividend
Cairo – Mubasher: The ordinary general meeting (OGM) of the Commercial International Bank – Egypt (CIB) on Wednesday approved the recommendation to distribute a cash coupon of EGP 0.50 per share to shareholders for fiscal year 2016. The dividend …
(Photo Credit: Arabianeye-Reuters)
15 March 11:55 AM CIB appoints Hussein Abaza as CEO
Cairo – Mubasher: Commercial International Bank – Egypt (CIB) on Wednesday announced appointing Hussein Abaza as chief executive and board member for the bank. The appointment follows an approval by the Central Bank of Egypt (CBE), CIB said in a …
(Photo Credit: Company website)
14 March 05:08 PM Gulf Hotels Oman OGM approves 250 baisas/shr dividend
Mubasher: Gulf Hotels Oman, listed on the Muscat Securities Market (MSM), on Tuesday said its shareholders approved the distribution of cash dividends of 250 baisas per share. Distributions represent 25% of the company’s capital and were approved …
The shareholders elected the new board member for a three-year period (Photo Credit: Company Press Release)
13 March 04:39 PM DFM Company approves annual financial statements
Mubasher: DFM Company said its shareholders approved on Monday, 13 March, the balance sheet and income statement for fiscal year 2016, according to a statement. The shareholders elected the new board member for a three-year period. During their …
Photo Credit: Arabianeye-Reuters
13 March 10:32 AM UPAC board proposes capital hike, bonus
Mubasher: The board members of United Projects Company for Aviation Services (UPAC) recommended a bonus share of 21.21% with a total of 17.5 million shares. The members also proposed raising the capital to KWD 10 million from KWD 8.250 million, …
(Photo credit: Arabianeye - Reuters)
13 March 10:29 AM Egyptian Starch OGM OKs delaying dividends
Cairo – Mubasher: Egyptian Starch and Glucose Company said Monday that its ordinary general meeting (OGM) has approved to postpone distributing cash dividends for fiscal year 2016, to maintain safe cash flow levels. The OGM adopted the financial …
(Photo Credit: Company website)
13 March 09:58 AM Chemanol to freeze dividends for 2016
Riyadh – Mubasher: Methanol Chemical Company’s (Chemanol) board recommended on Sunday not to distribute dividends for 2016. The company said that the decision is to support the financial position of the company and enhance its strategic plans. The …
Photo Credit: Arabianeye-Reuters
13 March 09:08 AM Aldrees shareholders nod to capital hike
Mubasher: The extraordinary general meeting (EGM) of Aldrees Petroleum and Transport Services Co approved the board’s recommendation of raising the capital by 25% through 1-for-4 bonus shares. The shareholders also agreed on the board’s proposal …
Photo Credit: Arabianeye-Reuters
13 March 08:32 AM Arabtec to consider business continuity mid-April
Mubasher: Arabtec Holding will hold its ordinary general meeting (OGM) on 18 April, following the approval of both the Securities and Commodities Authority (SCA) and Dubai Financial Market (DFM). The shareholders will discuss the continuity of …
(Photo Credit: Arabianeye-Reuters)
12 March 05:09 PM Dimah Capital acquires Tilford Mall for GBP 43m
Kuwait – Mubasher: Dimah Capital Investment company, alongside some other partners, has acquired Tilford Mall in Tilford, the UK, said the company’s CEO and vice chairman Hosam Nasser Al Muzaiel. The acquisition was made for GBP 43 million (KWD 16 …
(Photo credit: Company's website)
12 March 12:36 PM Mopco Q4 adjusted profits up 1,063%
Cairo – Mubasher: Misr Fertilizers Production’s (Mopco) adjusted standalone financial statements showed a 1,063% rise in profits for the fourth quarter of fiscal year 2016 to EGP 1.461 billion, versus EGP 125.6 million for Q4-15. Adjusted profits …
The Egyptian Exchange (Photo credit: Mubasher)
9 March 12:52 PM EGX cancels transactions on National Maize Products
Cairo – Mubasher: The Egyptian Exchange (EGX) said Thursday that it has cancelled all transactions on the National Company for Maize Products’ stock. Trading on the stock resumed at 11:20am Cairo time with a reference price of EGP 12.21, according …
(Photo Credit: Arabianeye-Reuters)
9 March 12:49 PM Solidarity posts SAR 3.6m profits in February
Riyadh – Mubasher: Solidarity Saudi Takaful on Thursday reported achieving a net profit before Zakat of SAR 3.61 million ($963,000) in February 2017, extending its gains and trimming its accumulated losses, according to a bourse filing. The …