ESHRAQ INVESTMENTS P.J.S.C

Eshraq Investments has announced its FY 2023 results, revealing a net loss of AED 545.10 million, compared to a net profit of AED 589.79 million in 2022. This decline was driven by changes in the value of the Goldilocks Fund and increased net finance costs due to a higher interest rate environment. The company also reported a 48% reduction in total liabilities, mainly due to reduced borrowings. The net investment value of the Goldilocks Fund stood at AED 1.34 billion at the end of 2023, down from AED 1.75 billion in 2022, due to market volatility and an intensive asset revaluation process. Eshraq also announced changes to its board and plans to reveal a refreshed corporate strategy in the coming weeks.

The document presents the consolidated financial statements and reports for Eshraq Investments PJSC for the year ending 31 December 2023.

The Board of Directors of Eshraq Investments PJSC held a meeting on March 19, 2024, with all members present. The board approved the company's audited financial statements for the financial year ending December 31, 2023, and the Corporate Governance Report for the same year. They also approved the agenda of the Annual General Assembly of the Company (AGM) and will schedule a meeting date in agreement with the Securities and Commodities Authority. Decisions about internal administrative and organizational matters were also made.

Eshraq Investments PJSC has announced a Board of Directors' meeting scheduled for March 19, 2024, to be conducted via video and audio conference call. The agenda includes approval of the audited financial statements for the year ending on December 31, 2023, discussion and proposal for the appointment of external auditors for 2024, approval of the Annual General Assembly's agenda, and discussion of other general business matters. The information was disclosed by Mohammad Al Bazaieh, the Corporate/Board Secretary.

On 19/02/2024, Eshraq Investments PJSC issued a statement to the Abu Dhabi Securities Exchange addressing the recent increase in trading volumes of its shares. The company clarified that this activity was not due to any undisclosed material news or events. Eshraq emphasized its commitment to transparency and regulatory compliance. It highlighted a 48% year-on-year reduction in bank borrowings in its preliminary financial disclosures for 2023. The company plans to release its audited consolidated financial statements in March 2024, which will include a comprehensive analysis and a declaration of its revised corporate strategy aimed at increasing shareholder value. The Board of Directors and Executive Management team look forward to sharing this updated strategic direction with shareholders.

The General Assembly meeting for Eshraq Investments PJSC, which was initially scheduled for Thursday, 01/Feb/2024, was postponed due to lack of quorum. The adjourned meeting is now set to take place on Thursday, 08/Feb/2024, at 11:00 AM. The location of the meeting is Eshraq H.Q in Abu Dhabi, with options for audio and video call attendance and e-registration for voting. The postponed meeting will be deemed valid regardless of the percentage of shares present or represented in the meeting.