Shareholders approved two significant share capital increases: up to AED 350 million via a private subscription for existing shareholders and up to AED 1.25 billion through the issuance of mandatory convertible Shariah-compliant debt instruments.
The assembly resolved not to distribute cash dividends, bonus shares, or Board of Directors remuneration for the financial year ended 31 December 2025.
The approved debt instruments will convert to shares at a price of AED 1 per share within three months of issuance, with resulting shares subject to a 12-month lock-up period.
A proposal was approved to settle dues to Aila Investment LLC using 25% of the total net actual cash flows from the Phase (14) project located in Al Ain.