Emirates Driving Company

The Emirates Driving Company pjsc will have a meeting on Thursday, 21 December 2023, starting at 12:00 pm. The agenda includes the discussion of the company's 2024 budget and progress of company projects. The meeting will be led by the Chief Executive Officer, Khaled Al Shemeili. This information was disclosed by the Board of Directors of the Emirates Driving Company pjsc.

On 12th December 2023, the Board of Directors of the Emirates Driving Company - Public Joint Stock Company (PJSC) passed a resolution approving two key changes, subject to approval from the Securities & Commodities Authority and the General Assembly. The first resolution is to split the share nominal value by reducing it to fifty (50) Fills from the current value of one (1) UAE Dirham, which would increase the number of issued shares to 179,572,800 from 89,786,400. The second resolution is to capitalize part of the retained earnings amounting to AED 448,932,000 to increase the share capital.

On December 7, 2023, the Board of Directors of Emirates Driving Company PJSC announced that they will pass a written resolution on December 12, 2023. This resolution will relate to a share split and a capital increase through the capitalization of part of the retained earnings. The announcement was made by the company's CEO, Khaled Al Shemeili. A copy of the notification was also sent to the Security and Commodities Authority.