Today's Edition
ABU DHABI (ALETIHAD)
Multiply Group announced on Monday that its shareholders have approved all resolutions presented at its General Assembly Meeting (GAM), including the proposed acquisitions of 2PointZero Holding RSC Limited and Ghitha Holding PJSC through share-swap transactions, according to a media statement issued by the company.
The acquisitions form part of Multiply Group’s broader strategy to build scale, enhance portfolio synergies, and drive sustainable long-term value. Following the approval, the company will issue 23.36 billion new shares, increasing its share capital from Dh2.8 billion to Dh8.64 billion to complete the transactions.
The statement said the approved resolutions also include amendments to the company’s Articles of Association, a change of trade name to Two Point Zero Group P.J.S.C, and an increase in the number of board members from five to nine.
“The shareholder approvals mark an important milestone in Multiply Group’s journey toward creating one of the region’s most diversified and balanced investment platforms,” the statement said.
“Combining Multiply Group, 2PointZero, and Ghitha Holding within a unified structure creates a globally competitive platform focused on Energy and Consumer, complemented by a large alternative investment arm,” the statement added.
“The shareholder approval reflects confidence in Multiply Group’s strategic direction and our commitment to long-term value creation. The acquisitions of 2PointZero and Ghitha strengthen our platform and position us to capture opportunities across transformative sectors,” said Syed Basar Shueb, Chairman of Multiply Group.
The GAM also authorised the company’s board of directors to take all necessary actions to implement the approved resolutions, including the execution of the share-swap procedures and the listing of the new shares on the Abu Dhabi Securities Exchange (ADX), following regulatory approvals.
