General Information

Company share prices (high/low/closing) at the end of each month during 2024

Months (2024) High (AED) Low (AED) Closing Price (AED)
January 7.420 6.890 7.000
February 7.000 5.630 6.200
March 6.300 6.000 6.090
April 7.980 6.020 7.340
May 7.590 6.970 6.990
June 7.010 6.590 6.660
July 6.710 5.900 5.990
August 6.580 5.820 6.290
September 6.400 5.900 6.100
October 6.110 5.760 5.970
November 5.960 4.490 5.450
December 5.840 5.320 5.320

Above data has been obtained from DFM.

Performance of company shares against Dubai Financial Market General Index (DFMGI) for the  year 2024

Note: comparison cannot be effectively performed within industry sector index as GULFNAV is the only maritime and shipping company listed on the DFM.

Above data has been obtained from DFM.

Distribution of the shareholding structure as of 31st Dec 2024

Ownership/ Citizen Individual Bank Company Institution Government Market Maker Total
Arab 2.96% ‑ 0.003% ‑ ‑ ‑ 2.96%
GCC 1.52% ‑ 0.12% ‑ ‑ ‑ 1.64%
UAE 21.32% 4.83% 31.94% 0.08% ‑ 4.77% 62.94%
Others/Foreign 3.09% ‑ 29.37% ‑ ‑ ‑ 32.46%
Total 28.89% 4.83% 61.42% 0.08% ‑ 4.77% 100%

Above data has been obtained from DFM. [Total ‑ rounded off]

Top 5% and above shareholding as on 31st Dec 2024

Individual/Group Investors (Shareholders) Qty Owned (No.) Qty Owned (%)
Poseidon Fund CEIC Limited 200,000,000 23.88%
Ajman Bank PJSC 47,670,984 5.69%

Above data has been obtained from DFM.

Shareholding distribution based on volume as on 31st Dec 2024

Share Ownership Volume (Qty) No.  of Shareholders No.  of Shares Owned (Qty) % of Owned Shares in the Company Capital
Less than 49,999 9,842 21,522,813 2.57%
50,000 – 499,999 233 35,307,935 4.22%
500,000 – 4,999,999 83 127,904,50 15.27%
Above 5,000,000 26 652,960,37 77.95%
Total 10,184 837,695,625 100%

Above data has been obtained from DFM.

Investor Relations

The officer in charge of investors’ relations and shareholder communications for the Company is Mr. Nader Muqbel.

The Shareholders are able to contact and obtain necessary information about the company (and shares) from the Investor Relations Manager via:

Telephone: +971 4 4270104
Fax: +971 4 4270103
Mob: +971 5 67780799

Email: investor.relations@gulfnav.com

Website: www.gulfnav.com

Link: www.gulfnav.com/investors

The Company’s website also features ‘investors relation’ section, whereby stakeholders can have easy access to the financial statements, governance reports, annual reports, company disclosures, general assembly meetings, board meetings, unclaimed dividends list, etc.

Special Decisions and Resolutions of the General Assembly meeting held during 2024

No specials resolutions were considered in the General Assembly meeting held on April 29, 2024.

Name and appointment of board secretary with the qualification

Ibrahim N Partners (“INP”) were appointed to the position of Secretary of the Board of Directors. INP is a local law firm with a regional footprint working across the Middle East region. Led by their UAE office Managing Partner, Ahmed Ibrahim, their lawyers are experts in advising on all aspects of UAE laws. Their UAE offices are also well placed to provide local legal support across the GCC.

Significant events during the  year 2024 (excerpts)

  1. January 25, 2024:
    The company signed a Memorandum of Understanding with Wings Logistics Services.
  2. February 2, 2024:
    Ms. Muhra Al Ali resigned from her position as Board Member.
  3. February 14, 2024:
    The Board of Directors appointed Ms. Grace Wong as a Board Member.
  4. April 29, 2024:
    The General Assembly ratified the appointment of Mr. Saif Salem Al Rashdi as a Board Member.
  5. June 5, 2024:
    Resignation of Mr. Mohammed Abdulrahman Amiri from his position as Vice Chairman of the Board.
  6. June 11, 2024:
    The Board of Directors appointed Mr. Ahmed Kilani as a Board Member.
  7. June 27, 2024:
    Mr. Mazen Jaber Al Dahmani resigned from his position as Board Member.
  8. July 3, 2024:
    The Board of Directors appointed Mr. Abdulhadi Al Sadi as a Board Member.
  9. September 25, 2024:
    The company announced key board decisions regarding the acquisition of assets from Brooge Energy Limited.
  10. October 25, 2024:
    Mr. Saif Al Rashdi resigned from his position as Board Member.
  11. October 28, 2024:
    The Board of Directors appointed Mr. Adel Abdulhamid Al Hosani as a Board Member.
  12. December 18, 2024:
    Mr. Adel Al Hosani resigned from his position as Board Member.
  13. December 18, 2024:
    Mr. Adel Al Hosani resigned from his position as Board Member.
All material information/press release/disclosures are also being timely published to the SCA/DFM and company website, please refer in case of further details.

Statement of major transactions exceeding 5% with related parties in 2024

In 2024, the Company was not involved in any transaction that was equal to or exceeding 5% of the Company’s share capital.

Percentage of Emiratization at the company by the end of 2024

During the year 2022, the company did not employ any UAE National.

During the year 2023, the company did not employ any UAE National.

During the year 2024, the company did not employ any UAE National.

Statement of the innovative projects undertaken by the company (or under development) during 2024

At GULFNAV, we remain steadfast in our commitment to environmental stewardship, understanding the imperative of reducing carbon emissions in the maritime industry. Embracing sustainability as a core principle, we continue to lead with innovative projects aimed at reducing our carbon footprint and driving the transition towards a more sustainable maritime sector:

  • We have implemented advanced silicon coating for propellers across our entire fleet, enhancing efficiency and reducing emissions.
  • Investing in drone technology, we explore its integration into port operations to improve safety and efficiency.
  • Leveraging cutting‑edge technologies, we contracted with a few specialist companies in vessel performance to achieve greater fuel efficiency and operational sustainability.
  • Advocating for international regulatory frameworks and incentives, we contribute and participate in local initiatives for sustainable shipping practices and leadership.
  • Through the installation of state‑of‑the‑art engine devices, we surpass International Maritime Organization standards for carbon intensity indices (EEXI & CII), minimizing energy consumption and optimizing fuel efficiency beyond regulatory requirements.
Chairman of the Board of Directors Chairman of the Audit Committee Chairman of the Nomination and Remuneration Committee
Date: 29/03/2024 Date: 29/03/2024 Date: 29/03/2024