Eshraq Investments in final stages of completing the acquisition of Goldilocks Fund

Eshraq Investments in final stages of completing the acquisition of Goldilocks Fund

- Company posts first-half net profit of AED 7.29 million

- Company achieved 151% commercial operations income growth in H1 2022 compared to the same period last year

Abu Dhabi, UAE: Eshraq Investments PJSC ("Eshraq" or "Company"), listed on the Abu Dhabi Securities Exchange ("ADX"), announced today that the process of acquiring Goldilocks Fund through the issuance of new shares is nearing completion. The company is in the process of reducing the share capital from AED 2.325 billion to AED 1.427 billion to offset accumulated losses, and is also working on the subsequent capital increase in exchange for the acquisition. This acquisition is expected to enable Eshraq to increase its profitability, improve its share price and position the company for strong business development, while creating tangible and long-term sustainable value for Eshraq shareholders.

Eshraq also announced its condensed consolidated financial results for the six months ended June 30, 2022. On core operations front, the Company’s gross profit from commercial operations was 151.7% higher than in the same period last year. The company reported a net profit of AED 7.29 million, down 59% year-on-year due to higher profit from its public equities portfolio last year compared to this year.

Eshraq recorded total operating income of