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November 4, 2024
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The Holding Company” strengthens its role in owning shares of the AD government in several PJSC.
Issues number 694 and 695 of the Official Gazette for the year 51 dated 01/14/2021 AD and 01/31/2021 AD were including announcements regarding the amendment of the articles of association issued by the Securities and Commodities Authority for the following companies:
– Takaful House Company – SAOG
– Gulf Cement Company PJSC
– The General Holding Company PJSC
– The National Health Insurance Company
– Abu Dhabi Sewerage Services Company
– Abu Dhabi Media Company
– Abu Dhabi Airports Company
– Abu Dhabi Health Services Company
– Abu Dhabi Ports Company
– United Food Company
– Amanat Holding Company
– The International Holding Company
– United Arab Bank
– Shuaa Capital Company
– Abu Dhabi Ship Building Company
– Abu Dhabi National Exhibitions Company.
Through the extrapolation of the declaration certificates regarding the amendment of the articles of association of the above joint-stock companies – public shareholding – we found that among the most prominent of those amendments to the articles of the previous articles of association of these companies are the amendments made to the definitions clauses by including a special definition of the “HOLDING” (ADQ), and there are amendments in regards to the activities of a company in line with the orientations of the “Holding” (ADQ), the duration of the company, the amendments of the capital and ownership of shares, the distribution of profits, the amendments related to the appointment of members of the board of directors and their powers, the legal quorum for the council to convene and the General Assembly, in addition to defining the terms of reference for the CEO. Further, among the most important and prominent of these amendments was the devolution of the ownership of these companies completely to the “Holding” (ADQ), which qualifies it to work strongly and effectively in enhancing the performance and value of these companies, raising the level of their contribution in the Emirate of Abu Dhabi and activating the complementary strategic cooperation between them to reach excellence in the level of productivity, efficiency, and quality.
It should be noted that ADQ was established in 2018 and is one of the largest holding companies in the region, as it owns direct and indirect investments in tens of companies and its portfolio of major companies covers major sectors within the economy of the Emirate of Abu Dhabi. Including food, agriculture, aviation, financial services, agricultural technology, healthcare, industries, logistics, media, real estate, tourism, hospitality, utilities, and transportation.
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