Amanat Holdings, the Dubai-listed firm that invests in healthcare and education businesses, plans to move its headquarters to Abu Dhabi and list its shares on the Abu Dhabi Securities Exchange.
A special resolution, added by shareholders owning more than 10 per cent of the company, to move from Dubai to Abu Dhabi was approved at its general assembly meeting, the company said in a statement on Wednesday without specifying any reason for the move.
The decision to move the company's headquarters as well as to list on Abu Dhabi bourse is subject to the approval of the relevant authorities, including the Securities and Commodities Authority, the Dubai Financial Market and the Abu Dhabi Securities Exchange.
“The unprecedented economic headwinds caused by Covid-19 have certainly demanded further measures across all our portfolio companies, operationally and financially, but we operate in two of the most resilient sectors that are well equipped to adapt to the current economic conditions,” Hamad Al Shamsi, Amanat’s chairman, said. “We also have the capital structure, investment acumen and talent to allow us to deliver on our strategy in the current macro-economic climate.”
The company also said its shareholders approved the board of directors’ recommendation to distribute a cash dividend of 2.2 fils per share for the year ended December 2019. The dividend distribution represents a total payout of Dh55 million, marking the fifth consecutive year of dividend distribution by Amanat.
Amanat reported a 40 per cent rise in its full-year net profit in 2019 as its income from investments rose and expenses fell.
Net income for the 12-month period ending December 31 climbed to Dh60m, the company said earlier this year. Total income for the reporting period rose to Dh113.3m, an 8 per cent year-on-year rise.
Last month, the company said it has ended discussions to buy a stake in VPS Healthcare Group, founded by Dr Shamsheer Vayalil who is also the vice-chairman and managing director at Amanat.
"Alongside optimising our portfolio through integration and synergy extraction, we are also committed to driving increased operational efficiency at the Amanat holding level," Mr Vayalil said.
A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars
One in nine do not have enough to eat
Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.
One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.
The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.
Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.
It is currently estimated that one in nine people globally do not have enough to eat.
On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.
Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Company profile
Company name: Nestrom
Started: 2017
Co-founders: Yousef Wadi, Kanaan Manasrah and Shadi Shalabi
Based: Jordan
Sector: Technology
Initial investment: Close to $100,000
Investors: Propeller, 500 Startups, Wamda Capital, Agrimatico, Techstars and some angel investors
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
'Nope'
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Company%20Profile
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
Mohammed bin Zayed Majlis
Killing of Qassem Suleimani
Brief scores:
Juventus 3
Dybala 6', Bonucci 17', Ronaldo 63'
Frosinone 0
TUESDAY'S ORDER OF PLAY
Centre Court
Starting at 2pm:
Elina Svitolina (UKR) [3] v Jennifer Brady (USA)
Anastasia Pavlyuchenkova (RUS) v Belinda Bencic (SUI [4]
Not before 7pm:
Sofia Kenin (USA) [5] v Elena Rybakina (KAZ)
Maria Sakkari (GRE) v Aryna Sabalenka (BLR) [7]
Court One
Starting at midday:
Karolina Muchova (CZE) v Katerina Siniakova (CZE)
Kristina Mladenovic (FRA) v Aliaksandra Sasnovich (BLR)
Veronika Kudermetova (RUS) v Dayana Yastermska (UKR)
Petra Martic (CRO) [8] v Su-Wei Hsieh (TPE)
Sorana Cirstea (ROU) v Anett Kontaveit (EST)
UAE currency: the story behind the money in your pockets
