Aramex foreign ownership limit increase

[sharewadi]

Aramex BOD meeting to discuss whether to reclassify GCC shareholders as equivalent to UAE nationals for share ownership, which would have the effect of freeing up more shares for non-GCC nationals. Aramex foreign ownership is close to or at the limit. See also Aramex foreign ownership maxed out (July 2007).

See also Aramex 2008 FY results.

DFM 22 February 2009 (pm):

(ARMX) Aramex: Announces its BOD meeting to be held on 25/02/2009 including its agenda

Aramex 22 February 2009:

Date: February 22, 2009 Subject: Notification of the Board of Directors meeting Ms. Fahima A. Al Bastaki Director of Disclosure and Listing Dubai Financial Market Dubai, UAE Greetings, We would like to inform you that the Board of Directors meeting is scheduled to be held on Wednesday the 25th of February, 2009 at 18:00. The agenda of the meeting which includes discussion of the following points: the dates and the agenda of the AGM and EGM, which will include the suggested changes to the company's articles of association to (a) comply with the ESCA's recent corporate governance requirements (b) provide that GCC nationals may, along with UAE nationals, comprise 51% of the company's share capital ownership. whether or not to recommend the distribution of profits to the shareholders for the year ended December 31,2008. Other routine matters Best regards, Ashraf Shakaa Public and Investor Relations Manager

_________________
UAE IPO list | posting guidelines

[sharewadi]

Aramex (ARMX) shares were 15% limit up to AED 1.39 today, with no sellers in the queue at the end of the session, in fact there were very few trades after 10:30 am. Could be on track for another good day tomorrow?

Press Release 01 July 2009:

Aramex extends foreign share ownership up to 49 per cent Dubai, July 1, 2009: Aramex (ARMX), the global logistics solutions provider whose shares are listed on the Dubai Financial Market (DFM), announced today that foreign investors, including all those who are not nationals of the UAE or the Gulf Cooperation Council (GCC) states, may own up to 49 per cent of the company’s share capital as of July 1, 2009. This step follows ratification by the UAE Ministry of Economy of a resolution approved at a recent Aramex Extraordinary General Meeting, stating that share ownership by GCC and UAE nationals should be treated at par. Collectively, their ownership of Aramex shares should not be less than 51 per cent at any time. Since the listing of its shares on the DFM in 2005, Aramex has consistently attracted high levels of foreign ownership of its shares, and continues to attract such interest from long-term foreign institutional investors.

_________________
UAE IPO list | posting guidelines

[OnlineTrader]

There are in news that they have approved foriegn ownership limit to be maximum 49%.

I regret what I did today.