Goldilocks Investment Company Limited (“Goldilocks”) today announced that it has increased its beneficial ownership in Islamic Arab Insurance Company (“Salama”) to 14.05% from 9.92%.
Goldilocks acquired the additional stake via a share finance facility. Together, Goldilocks and ADFG continue to hold around 29.92% of Salama’s issued shares. Goldilocks and ADFG remain bullish on the growth prospects of the insurance sector in the UAE. The entities enjoy wide support from other like-minded shareholders invested in the UAE insurance sector.
Goldilocks and ADFG have supported the nomination of two candidates to the Salama board in the upcoming board election that will be held on 16th December. The two entities look forward to working constructively with Salama and its stakeholders.