Alpha Dhabi Holding PJSC

On 26th July 2024, the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange received a notification from Alpha Dhabi Holding PJSC regarding an upcoming Board of Directors' meeting. The meeting is scheduled for Wednesday, 31st July 2024 at 9:00 pm. The agenda includes reviewing the consolidated financial statements for the quarter ending 30th June 2024 and discussing other general business matters. The letter was signed by Hamad Salem Alameri, the Managing Director, and a copy was sent to H.E. Dr. Maryam Butti Al Suwaidi, CEO of the Securities and Commodities Authority.

Ener sol has signed an agreement to acquire a 51% equity stake in NTS AMEGA for $581 million. NTS AMEGA is a global manufacturer of advanced precision equipment for the energy sector. This acquisition will enable ADNOC Drilling to benefit from Enersol’s AI, digitization, and advanced technology. This is Enersol’s second acquisition, emphasizing its focus on technology-centric investments. The transaction, which is subject to regulatory approvals and closing adjustments, will make Enersol the majority equity holder. NTS AMEGA provides advanced manufacturing and repair solutions for the oil and gas industry, with operations in several countries. NTS reported strong financials in FY2023, with over $120 million in revenue and a robust EBITDA margin, presenting significant value for Enersol’s shareholders.

ADNOC Drilling and Alpha Dhabi's joint venture, Enersol, has increased its equity stake in Gordon Technologies to 67.2% by acquiring an additional 42.2% stake for approximately $270 million. This acquisition, which makes Enersol the majority equity holder, will be funded 80% upon closing, with the remaining amount to be paid over the next two years subject to performance conditions. The transaction is pending regulatory approvals and closing adjustments. Gordon Technologies, a debt-free provider of measurement while drilling (MWD) technology, has established operations in Abu Dhabi to commence field operations in the MENA region by Q2 2024. The acquisition is expected to be economically beneficial to Enersol, enhancing profitability, cash flow, and dividend potential. Enersol aims to invest in multiple businesses to support the UAE’s energy security, net zero agenda, and economic diversification efforts. The company will leverage AI, digitization, and advanced technologies to bring accretive returns to shareholders.

On 16 May 2024, Alpha Dhabi Holding PJSC notified the Abu Dhabi Securities Exchange that it has received approval from the Securities and Commodities Authority to hold its Annual General Assembly on 10 June 2024 at 3:30 pm local time. The invitation will be published in two daily newspapers in accordance with commercial companies law. The invitation and agenda for the meeting, along with guidance notes regarding attendance and proxies, were attached to the notification.

The Management Discussion & Analysis report for the period ending on 31 March 2024 was released by Alpha Dhabi Holding PJSC on 03 May 2024. The document, intended for investor relations, is identified by the DocuSign Envelope ID: 0093C2B7-EDB9-4C67-BC37-EA567211B17F.