"Porridge" For petrochemicals, it suggests the re -purchase of shares and pay the final profit distributions for 2024

Abu Dhabi, March 17/ WAM/ Bruges BLC, one of the world’s leading petrochemical companies in providing innovative and varied polycarbon solutions, announced that it will seek to obtain the approval of the shareholders to rebuild shares and pay the final profits distributions for 2024 during the annual general assembly meeting or from the dimension scheduled to be held on April 7, which provides the company with the option to buy up to 2.5% of the head The source of the source.
This proposal comes after Buruj achieved distinguished financial results for the year 2024, as it recorded an increase of 24% on an annual basis in its net profit to reach 4.55 billion dirhams “1.24 billion dollars”, and a great ability to generate strong cash flows of up to 5.9 billion dirhams “1.6 billion dollars”, driven by achieving record volumes in production and sales.
The proposal to rebuild shares confirms the company’s confidence in its long -term growth prospects, and its commitment to achieving large returns for its shareholders through many ways based on its exceptional performance in the operational and financial aspects.

After obtaining the approvals of shareholders and other relevant regulatory bodies, shares will be repaid through open market transactions in line with the regulatory regulations of the Abu Dhabi Securities Market, as the amount of shares that are bought will depend on the prevailing conditions in the market and a number of other factors affecting the process.
Hazim Sultan Al -Suwaidi, CEO of Buruj Company, said that the process of re -purchasing the shares of Buruj with an attractive evaluation embodies the commitment of “Buruj” and its continuous keenness to create and enhance the value of the shareholders, and with its provision of one of the highest profit distribution returns in the Abu Dhabi Securities Market, this process highlights the strength of the Bruges Mali Center and its ability to seize the chances of enhancing the increasing value.

He added that by possessing a “zodiac” for a strong public budget and strong generation for cash flows, it works to establish its position and its distinguished ability to achieve the maximum possible amount of returns for the shareholders, and it also continues to focus on making progress in the strategic expansion project Bruges 4 and in other strategic initiatives.
It is worth noting that if the General Assembly agrees to the process of re -purchase, it will be managed and supervised by the Board of Directors, and the process can be modified or stopped at any time, as the shares of 2.5% constitute the accredited ceiling for re -purchase.
In addition to the proposal to rebuild shares, shareholders will also vote for approval of the final profit distributions of 2024 amounting to 7.94 fils per share, which is planned to be distributed on April 28, 2025, bringing the total profit distributions of 2024 to 4.8 billion dirhams (1.3 billion dollars), equivalent to 15.88 fils per share while providing an attractive annual profit revenue.
Bruges is characterized by a strong and operational status and focuses on its continuous enhancement, to consolidate its position within the leading companies in its sector and accelerate the implementation of its ambitions to grow.

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