Abu dhabi: Multiply Group today announced that its shareholders have approved all resolutions presented at the Company’s General Assembly Meeting (GAM). During the GAM, shareholders voted in favor of the proposed special and ordinary resolutions, including the approval of Multiply Group’s acquisitions of 2PointZero Holding RSC Limited and Ghitha Holding PJSC through share-swap transactions. These acquisitions form part of Multiply Group’s broader strategy to build scale, enhance portfolio synergies, and drive sustainable long-term value.
According to Emirates News Agency, as approved by the shareholders, Multiply Group will issue 23.36 billion new shares, increasing its share capital from AED 2.8 billion to AED 8.64 billion, to complete the transactions. The approved resolutions also include amendments to the Company’s Articles of Association, the 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. 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.
Syed Basar Shueb, Chairman of Multiply Group, stated that today’s shareholder approval reflects confidence in Multiply Group’s strategic direction and commitment to long-term value creation. The acquisitions of 2PointZero and Ghitha strengthen the platform and position the company to capture opportunities across transformative sectors.
The GAM also authorised the Company’s Board of Directors to take all necessary actions to implement the approved resolutions, including the execution of share-swap procedures, amendments to the Company’s Articles of Association, and the listing of new shares on the Abu Dhabi Securities Exchange (ADX) following regulatory approvals.