Waha Capital elects new chairman

Abu Dhabi-based investment manager Waha Capital has elected a new board and approved a cash dividend at its annual general meeting.

Former chief executive Salem Rashid al Noami has been appointed as the new chairman succeeding Hussain Jasim al Nowais.

Ahmed Al Dhaheri and Michael Raynes have been elected as vice chairman and chief executive respectively.

The shareholders also approved a cash dividend of 17.5 fils per share (roughly five US cents), equivalent to 17.5% of the company’s paid-up capital.

Waha’s net profit attributable to shareholders grew by 4.6% to 425.9 million dirhams ($116 million) in 2017 and the company, which has 11.4 billion dirhams of assets under management, expects further growth in 2018 and will look to pursue investment opportunities in the health, financial services and technology sectors.

©2018 funds global mena

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