Gulf Navigation : Notice to Creditors Share Capital Reduction of Gulf Navigation Holding (Public Joint Stock Company)

Gulf Navigation HoldingPJSC (the "Company") announces that the general assembly meeting held on Wednesday, 22 March 2023 has agreed to reduce the share capital of the Company to absorb the accumulated losses and authorized the Board of directors to execute the capital reduction through the cancellation of 637,695,625 (six hundred thirty-seven million six hundred ninety-five thousand six hundred twenty-five) shares with the nominal value of AED 1 on a pro rata basisin accordance with the auditor's report on the share capital reduction, which has been presented to the general assembly during the same meeting.

The Board in its meeting held on 22 March 2023 decided to start the capital reduction process to reduce the share capital from AED 1,275,391,250.00 (one billion two hundred seventy-five million three hundred ninety-one thousand two hundred fifty)by way of canceling AED 637,695,625 (six hundred thirty-seven million six hundred ninety-five thousand six hundred twenty-five) on 27 April 2023 in which the Capital of the Company will be on that date equivalent to AED 637,695,625 (six hundred thirty-seven million six hundred ninety-five thousand six hundred twenty-five) distributed across AED 637,695,625 (six hundred thirty-seven million six hundred ninety-five thousand six hundred twenty-five) shares with a nominal value of one (1) AED per share.

Therefore, the Company invites all its creditors to apply to the Company within thirty (30) days from the date of this notice (by 23 April 2023 at the latest) with all of the documents evidencing their debts, through personal service to the headquarters of the Company in Gulf Navigation Holding PJSC, 3901,API Trio Office Tower, Al Barsha 1, Dubai, United Arab Emirates, for the attention of the Board Secretary Mr. Yazan S. Maragha.

Gulf Navigation Holding (PJSC)