Dubai: The shareholders of the Dubai Financial Market Company (PJSC) approved the balance sheet for the financial year ended December 31, 2021, during the company’s annual general meeting held today, Tuesday, March 22, 2022 , and headed by His Excellency, Helal Al Marri, President of the company. The shareholders also ratified the report of the Board of Directors on the performance of the Company and its financial situation for the financial year ended December 31, 2021, the report of the external auditor as well as the report of the Supervisory Board of the Fatwa and Sharia’a.

At the AGM held electronically, shareholders approved the Board’s recommendation to distribute a 3% cash dividend equivalent to AED240 million.

The shareholders also discharged the members of the Board of Directors and the auditors from their responsibilities for the financial year ended December 31, 2021 and appointed PricewaterhouseCoopers as auditors for the financial year 2022 and fixed their fees. .

In addition, the shareholders approved special resolutions including the ratification of related party transactions during the year 2021 and approved the execution of transactions with related parties provided that these transactions do not exceed 30% of the share capital of the Company for the year 2022 and be presented for approval at the next general meeting.

The General Meeting also approved the sale of treasury shares in the amount of 4,236,831 shares previously allocated to the Company when it was listed on the stock market under the Employee Stock Option Program and authorized the Board of Directors to implement this resolution.

The shareholders approved the appointment of members of the fatwa and sharia supervisory board for the year 2022. The Zakat of the shares for the year 2021 was calculated using the net asset method at AED 8.96 for 1000 shares. The Shariah Board urged the shareholders, who purchased the shares for holding purposes, to distribute this Zakat according to their holdings. The Shariah Board has also calculated the non-Shariah-compliant income from the operations of the company as well as its subsidiaries during the years 2020 and 2021, at a total of AED47.7 million or AED5.97 for 1000 shares.

It should be noted that the Dubai Financial Market Company (PJSC) recorded a consolidated net profit of AED 99.1 million for the year ended 31 December 2021, compared to AED 142.6 million in 2020. Total revenue reached 298 .1 million AED against 351.8 million AED.

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About Dubai Financial Market:

The Dubai Financial Market (DFM) was established as a public institution with its own independent legal entity. DFM operates as a secondary market for trading in securities issued by public limited companies, bonds issued by the federal government or one of the local governments and public institutions in the country, units of investment funds and any other financial instrument, local or foreign, which are accepted by the market. DFM commenced operations on March 26, 2000 and became the first Shariah-compliant Islamic stock exchange in the world since 2007. Following its IPO in November 2006, when DFM offered 1.6 billion shares, representing 20% of its paid-up capital of AED 8 billion, DFM became a public joint-stock company and its shares were listed on March 7, 2007 under the trading symbol (DFM). Following the IPO, the Government of Dubai retained the remaining 80% of DFM Company through Borse Dubai Limited. www.dfm.ae

For more information, please contact:
Atef Fathy
Vice President – Head of Media and Public Relations
Dubai Financial Market
Email: [email protected]