ESHRAQ INVESTMENTS P.J.S.C

Logotype for ESHRAQ INVESTMENTS P.J.S.C
Ticker/ISIN
ESHRAQ
AEE000901018
Market/Country
Abu Dhabi Stock Exchange
United Arab Emirates

About ESHRAQ INVESTMENTS P.J.S.C

The company was established in Abu Dhabi in 2006 as a private joint stock company and became a public joint stock company in 2011 The company continued to achieve good returns in real estate investment sector and the company is working in the activity of real estate investment in the areas of distinctive, especially in Abu Dhabi and Dubai, which carries with it the advantages of good returns and secure on long term and the company will focus in promising projects in the sectors of real estate with low risk.

Latest Pressrelease Summaries from ESHRAQ INVESTMENTS P.J.S.C

The document is a review report and condensed consolidated financial information for Eshraq Investments PJSC, covering the nine-month period ending on September 30, 2024.
Eshraq Investments PJSC, listed on the Abu Dhabi Securities Exchange, reported a profit of AED 6.7 million for Q3 2024, marking a 91% increase from the previous quarter and a significant improvement from a net loss of AED 83.3 million in Q3 2023. Finance income increased by 7.7% from the previous quarter and by 64% from Q3 2023, reaching AED 2.4 million. The company has made progress in its new strategy focusing on private equity and income-generating assets, while continuing efforts to redeem its holdings in the Goldilocks Fund for direct management. Eshraq's liabilities decreased by 11.4% since the end of 2023, aided by strategic exits from Goldilocks Fund holdings, which reduced liabilities by AED 403 million over nine months. Commercial real estate operations generated AED 4.0 million in Q3 2024, a 42% year-on-year decrease due to asset sales in 2023, with gross profit down 5% from the previous quarter and 28% year-on-year. Residential assets in Marina Rise Abu Dhabi maintained strong occupancy rates at approximately 97% in Q3 2024.
Eshraq Investments PJSC has released a review report and condensed consolidated financial information for the nine-month period ending on September 30, 2024.
Eshraq Investments PJSC held a Board of Directors meeting on November 13, 2024. The board approved the following: the condensed consolidated interim financial information for the nine-month period ending September 30, 2024, the business plan for 2025 and 2026, and decisions regarding internal administrative and organizational matters.
Resolution No. 513 of 2024 announces the temporary suspension of trading for ESHRAQ INVESTMENTS P.J.S.C shares on the Abu Dhabi Securities Exchange (ADX). This suspension will begin at 11:30 on November 13, 2024, coinciding with the company's Board of Directors meeting, and will remain in effect until ADX receives the results of the meeting. The resolution mandates that all relevant departments at ADX execute this decision and that the resolution be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on November 8, 2024.
Eshraq Investments PJSC, located in Abu Dhabi, UAE, has scheduled a Board of Directors' meeting on Wednesday, November 13, 2024, at 11:30 AM. The meeting agenda includes reviewing and approving the unaudited condensed consolidated interim financial information for the nine-month period ending September 30, 2024 (Q3 2024), reviewing and approving the business plan for 2025 and 2026, and discussing other general business matters. The disclosure was communicated by Mohammad Al Bazaieh, the Corporate/Board Secretary, to the Disclosure and Compliance Section of the Abu Dhabi Securities Exchange.
On October 4, 2024, Eshraq Investments PJSC held its fifth Board of Directors' meeting for the year. The meeting took place at 11:30 am and involved discussions and approvals of general business matters related to the company. The disclosure was addressed to the Abu Dhabi Securities Exchange's Disclosure and Compliance Section. The letter was signed by Mohammad Al Bazaieh, the Corporate/Board Secretary.
Eshraq Investments PJSC has scheduled its Board of Directors' Meeting No. 5 for the year 2024 on Friday, October 4, 2024. The meeting will be conducted via video and audio conference call, starting at 11:30 AM. The agenda for the meeting includes discussing general business matters that will not impact the share price. The disclosure was signed by Mohammad Al Bazaieh, the Corporate/Board Secretary, and addressed to the Disclosure and Compliance Section of the Abu Dhabi Securities Exchange.

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News Update From ESHRAQ INVESTMENTS P.J.S.C

Disclosures: Announcement- Report no. 85 dated 22/12/2023 on purchase of shares by Eshraq- ADX approved Buy-Back program.

Eshraq Investments PJSC has purchased 345,000 of its own shares as part of the Abu Dhabi Securities Exchange (ADX) approved Buy-back program. The decision to buy back the shares was made at a board meeting on 18/10/2023 and ADX approval to extend the buy-back was granted on 24/10/2023. The shares represent 10% of the total subscribed shares and were bought at a price of 0.4072 fils per share. The transactions were executed by FAB Securities. After the current purchase, the company holds 4.76% of its shares in treasury. There are still 147,726,196 shares unpurchased as per the Securities and Commodities Authority's approval.

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News Update From ESHRAQ INVESTMENTS P.J.S.C

Disclosures: ESHRAQ INVESTMENTS P.J.S.C Announcement of Board Meeting to be held on 27/12/2023 at 16:30

The Board of Directors of Eshraq Investments PJSC is scheduled to meet on December 27, 2023, via video and audio conference call. The agenda includes the ratification of the minutes from the previous meeting held on November 9, 2023, review and approval of the budget for financial years 2024 and 2025, consideration of calling a General Assembly meeting to discuss the company's share buyback program, and other operational matters.

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News Update From ESHRAQ INVESTMENTS P.J.S.C

Disclosures: Announcement- Report no. 84 dated 21/12/2023 on purchase of shares by Eshraq- ADX approved Buy-Back program.

Eshraq Investments PJSC has purchased 822,000 shares as part of a buy-back program approved by the Abu Dhabi Securities Exchange (ADX). The decision for the buy-back was made by the Board of Directors on 18/10/2023 and approved by ADX on 24/10/2023. The shares represent 10% of the total subscribed shares and were bought at a price of 0.4089 fils per share. The transactions were executed by FAB Securities. After this purchase, the company holds 4.75% of its shares as treasury shares. There are still 148,071,196 shares unpurchased as per SCA approval.

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News Update From ESHRAQ INVESTMENTS P.J.S.C

Disclosures: -Announcement- Report no. 83 dated 19/12/2023 on purchase of shares by Eshraq- ADX approved Buy-Back program

Eshraq Investments PJSC has reported the purchase of 700,000 shares as part of the Abu Dhabi Securities Exchange approved buy-back program. The decision to buy-back was made on 18/10/2023, with approval to extend the buy-back given on 24/10/2023. The purchased shares represent 10% of the total subscribed shares, bought at a price of 0.410 fils per share. The transactions were executed by FAB Securities. After the current purchase, Eshraq Investments PJSC holds 4.72% of its shares in treasury, with 148,893,196 shares still unpurchased as per SCA approval.

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News Update From ESHRAQ INVESTMENTS P.J.S.C

Disclosures: Announcement- Report no. 82 dated 18/12/2023 on purchase of shares by Eshraq- ADX approved Buy-Back program.

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News Update From ESHRAQ INVESTMENTS P.J.S.C

Disclosures: Announcement- Report no. 81 dated 12/12/2023 on purchase of shares by Eshraq- Securities & Commodities Authority's approved Buy-Back program.

The report from Eshraq Investments PJSC, dated 12/12/2023, provides information on the company's share buy-back program approved by the Abu Dhabi Securities Exchange (ADX). The Board of Directors decided on the buy-back on 18/10/2023, and the ADX approved the extension on 24/10/2023. The company was authorized to purchase 10% of the total subscribed shares, and it bought 897,205 shares on 12/12/2023 for 0.4112 fils each. The transactions were executed by FAB Securities. After the purchase, the company holds 4.68% of Treasury Shares, leaving 149,993,196 shares unpurchased as per SCA approval.

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News Update From ESHRAQ INVESTMENTS P.J.S.C

Disclosures: Announcement- Report no. 80 dated 07/12/2023 on purchase of shares by Eshraq- Securities & Commodities Authority's approved Buy-Back program.

Eshraq Investments PJSC has reported the purchase of 650,000 shares as part of its ADX approved buy-back program, according to a report dated 07/12/2023. The shares were bought on the Abu Dhabi Securities Exchange. The decision to buy back the shares was made on 18/10/2023, with the ADX approval to extend the buy-back program granted on 24/10/2023. The shares represent 10% of the total subscribed shares. The purchase price for each transaction was 0.4251 fils. The transactions were executed by FAB Securities. Following this purchase, the company holds 4.65% of treasury shares, with 150,890,401 shares still unpurchased as per SCA approval.

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News Update From ESHRAQ INVESTMENTS P.J.S.C

Disclosures: ESHRAQ INVESTMENTS P.J.S.C - Announcement – Invite Shareholders to attend Q3 2023 Management Presentation.

Eshraq Investments PJSC has invited its shareholders to attend a Q3 2023 Management Presentation, following the publication of its Q3 2023 financial results. The presentation and Q&A session, hosted by CEO Mr. Mohamed Al Hashimi, will give shareholders the chance to engage directly with the company's management, learn about its portfolio and investment philosophy, and review Q3 operational and financial performance. The event will be held on 15 November 2023 at 11:00 GST at the Royal M Hotel, Abu Dhabi, and virtually. Pre-registration is required, and the link to the virtual session will be shared upon registration.

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News Update From ESHRAQ INVESTMENTS P.J.S.C

ADX Disclosures: ESHRAQ Resumption Notice

The text appears to be a review report and condensed consolidated financial information for Eshraq Investments PJSC. The information provided pertains to the company's financial performance over a nine-month period ending on 30th September 2023. No further details are provided in the prompt.

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News Update From ESHRAQ INVESTMENTS P.J.S.C

Disclosures: ESHRAQ INVESTMENTS P.J.S.C Press Release on the Financial Results for the Period Ended September 30,2023

Eshraq Investments has released its Q3 2023 financial results, revealing a 5% YoY increase in room revenue from commercial real estate operations and a record occupancy rate of 94% for its Marina Rise apartments. The company's total Goldilocks Fund net investment value stood at AED 1.75 billion, while total liabilities reduced by over 30% YoY due to a decrease in bank borrowings. The company also announced a board reshuffle, including a new Chairman and directors, and a share buyback approved by the board. However, the company reported a decline in total operating income by 117.4% YoY and a net loss of AED 83.34 million in Q3 2023, driven by changes in the value of the Goldilocks Fund and higher net finance costs.

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