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E7 Group announces key appointments following rebranding

E7 Group announces key appointments following rebranding
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E7 Group
ADC
-2.70% 1.08 -0.03

Abu Dhabi - Mubasher: E7 Group has named Ahmed Al Shamsi as the Chairman of the board, according to a bourse disclosure.

During their meeting on 16 January 2024, the board members also agreed to appoint Khalid Almuhaidib as the Vice Chairman.

Ali Saif Al Nuaimi was announced as the Group CEO, while Faizal Amod became the Group Chief Financial Officer (CFO).

The key appointments came after the listed firm changed its name from ADC Acquisition Corporation to E7 Group.

In the first nine months (9M) of 2023, the company reported net losses valued at AED 25.32 million, an annual drop from AED 29.01 million.

Basic and diluted loss per share amounted to AED 2.76 in 9M-23, compared to AED 3.16 in 9M-22.