“EGM Approves opening up to an extent of 25% of its Capital”
Abu Dhabi, 25 June, 2011 – Following the official launch of its operations and the successful listing of its shares on ADX earlier this week, the shareholders of Insurance House PSC (IH) have approved during its Extraordinary General Meeting(EGM) to open up shareholding to foreigners to an extent of 25% of the company’s paid up equity share capital.
Commenting on that achievement, Mohammed Abdulla Alqubaisi, Chairman of Insurance House, said:” This achievement wraps up a momentous week for Insurance House, where by we have officially launched and successfully listed the company’s shares on ADX earlier this week”.
“With the enthusiasm of its team and devotion of its Board members, Insurance House is proving itself as a model of competence, in the market. We are setting new standards in the insurance sector through our swift progress and rapid movement”, added Alqubaisi.
Insurance House has listed its shares on ADX under the ticker symbol “IH”, where by its shares have been trading positively above par. Opening up to foreigners is another achieved goal for the company following a series of remarkable achievements since the completion of the 1st successful post crisis Initial Public Offering (IPO) in the UAE.
“That is another milestone for Insurance House. We will always strive for excellence and will endeavor constantly to create value for our existing shareholders. Additionally, we will give an opportunity to foreign investors to participate in our promising venture by building a successful and established relation with them”, concluded Alqubaisi.
In order to keep in touch with its shareholders, investors and customers, IH had recently launched its website, a valuable and reliable source for news, activities, and events of the company, which has been developed to provide comprehensive information about products and services offered by Insurance House, aimed at making the users experience effortless yet favorable.
Insurance House offers a host of comprehensive insurance products and services to institutions as well as individuals from its head-office in Abu Dhabi, in addition to branches spread in Dubai and Sharjah.