Consolidated statement of changes in equity for the year ended December 31, 2024
| Share capital | Share Premium/ (discount) | Treasury shares | Statutory reserve | Accumulated losses | Other reserves | Mandatory Convertible Bonds and Sukuk | Total | |
|---|---|---|---|---|---|---|---|---|
| AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | |
| Balance as at January 1, 2023 | 1,275,391 | 8,452 | (24,045) | 19,747 | (679,159) | (181,071) | ‑ | 419,315 |
| Capital reduction and absorption of losses (Note 14) | (637,695) | ‑ | ‑ | (19,747) | 657,442 | ‑ | ‑ | ‑ |
| Treasury shares (Note 16) | ‑ | 24,882 | (72,236) | ‑ | ‑ | ‑ | ‑ | (47,354) |
| Issuance of Mandatory Convertible Sukuk (Note 13) | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 220,000 | 220,000 |
| Shares issued to Sukuk holders (Note 14) | 200,000 | 2,400 | ‑ | ‑ | ‑ | ‑ | (220,000) | (17,600) |
| Total comprehensive profit for the year | ‑ | ‑ | ‑ | ‑ | 21,275 | ‑ | ‑ | 21,275 |
| Transfer to statutory reserve (Note 15) | ‑ | ‑ | ‑ | 2,128 | (2,128) | ‑ | ‑ | ‑ |
| Balance as at December 31, 2023 | 837,696 | 35,734 | (96,281) | 2,128 | (2,570) | (181,071) | ‑ | 595,636 |
| Treasury shares (Note 16) | ‑ | (48,475) | (146,765) | ‑ | ‑ | ‑ | ‑ | (195,240) |
| Total comprehensive loss for the year | ‑ | ‑ | ‑ | ‑ | (20,084) | ‑ | ‑ | (20,084) |
| Balance as at December 31, 2024 | 837,696 | (12,741) | (243,046) | 2,128 | (22,654) | (181,071) | 380,312 |
The accompanying notes 1 to 32 form an integral part of these consolidated financial statements.