FH okays 20% foreign ownership

Finance House PJSC Extraordinary General Meeting (EGM) has approved to open up shareholding to foreign ownership, to an extent of 20% of its paid up equity share capital, by amending its Articles of Association.

Mohammed Abdulla Alqubaisi, Chairman of Finance House, said, "We are pleased with this step. On this occasion, I would like to invite investors from across the region and internationally to participate in the growth of Finance House, which has proven to be one of the fastest growing groups in the region".

"Ever since inception, we have ensured creation of value for our shareholders, by offering them high returns on investments and by paying rational dividends that took into consideration micro and macro factors. We expect to keep the same trend, which will ensure the best interest for them," continued Alqubaisi.

Finance House has witnessed significant growth, and is listed on Abu Dhabi Securities Exchange under the ticker symbol "FH" and is categorized as a "Grade One" company by ESCA. Earlier this year, Finance House has announced that it has recorded a net profit of Dhs115.1m for 2010 and during the Annual General Meeting, its shareholders approved the payout of a cash dividend of 15% and a stock dividend of 10%.

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