12. General Information

a. Monthly Share price on the market

Month Close AED High AED Low AED Total Value per Month
AED million 		Total Volume per Month
(# of shares, million)
January 1.39 1.50 1.35 214 154
February 1.39 1.41 1.32 44 32
March 1.49 1.53 1.34 145 97
April 1.43 1.51 1.40 51 36
May 1.30 1.47 1.26 52 40
June 1.29 1.34 1.27 34 26
July 1.34 1.42 1.28 60 45
August 1.28 1.37 1.25 36 28
September 1.28 1.32 1.25 65 51
October 1.34 1.41 1.27 134 100
November 1.26 1.33 1.25 38 30
December 1.26 1.49 1.20 28 22

EMSTEEL Performance during 2024

b. Comparative performance of share to the general market index and a relevant industrial index

c. Ownership distribution of shareholders on 31 December 2024

No. Shareholder % of Shares Held
Individuals Corporates Government Total
1 UAE 7.71% 2.43% 88.25% 98.39%
2 Arabs 0.53% 0.22% ‑ 0.75%
3 Foreigners 0.13% 0.73% ‑ 0.86%
Total 8.37% 3.38% 88.25% 100%

d. Shareholders holding 5% or more

No. Shareholder Quantity Citizenship %
1 General Holding Corporation PJSC (“SENAAT”) 5,992,500,000 UAE 87.48

e. Shareholding distribution according to the volume of shares

No. Shareholding (shares) No. of Shareholders Shares Held Held Shares Ratio to Total Capital
1 Less than 50,000 76,104 161,311,599 2.35%
2 From 50,000 to less than 500,000 506 76,426,148 1.12%
3 From 500,000 to less than 5,000,000 106 140,158,214 2.05%
4 More than 5,000,000 33 6,472,104,039 94.48%
Total 76,749 6,850,000,000 100

f. Investors relations

Investor relations in‑charge and contact details:

Gleb Diachkov‑Gertcev is Director of Investor Relations. The Investor Relations department can be contacted via ir@emsteel.com

Investor relations web page on the Group’s website:

A webpage designated for investors relation has been developed within the EMSTEEL’s website, available via the link. It is updated and maintained to keep abreast with international best practice including investor relations information and contact details together with all reports and presentations relating to EMSTEEL’s financial results, General Assembly minutes, annual corporate governance reports and any other significant information of assistance to existing shareholders and potential investors.

g. Statement of special resolutions proposed at General Assembly

No special resolutions were presented at the General Assembly convened during 2024.

h. Board Secretary

Name of Board’s Secretary Mahmoud El Gharabawy
Appointment Date 3rd March 2023
Qualification and Experience
  • Mahmoud is a Partner in the Corporate Commercial practice at Hadef & Partners’ Abu Dhabi office.
  • Mahmoud has over 17 years of experience in the legal field, during which he focuses mainly on corporate, commercial, capital markets, M&A and finance transactions.
  • Mahmoud has extensive experience in corporate, merger and acquisitions and capital markets, including restructuring, IPOs, private placement, bonds/sukuk issuance, tender offers and right issues.
Job Description
  • Proposing the agenda of board meetings, organising and recording the activities of board meetings and sub‑committees.
  • Provide sound and professional advice to the Chairman of the board on matters related to corporate governance.
  • Ensure that the quorum of the board and its committees is achieved and that the related documents are distributed in a timely manner.
  • Ensure effective management of all logistical arrangements related to the board’s activities.
  • Ensure accurate and effective records are kept of board decisions in compliance with legal requirements.
  • Record the minutes of all meetings of the BoD, ensuring that all procedures have been duly observed, recording the time and place of the meeting, the names of the attendees or representatives at the meeting in the minutes and retain the original copies of the minutes at the Group’s headquarters.
  • Keeping the BoD and EMSTEEL Group executives fully informed of current and new legislative requirements.
  • Prepare for the Annual General Meeting of shareholders.
  • Follow up on board affairs (decision and requests), track and coordinate board requests between the board and management.
  • Maintain strict confidentiality of all tasks performed.
  • Perform all duties that may be required by law, EMSTEEL’s Articles of Association or internal regulations, and any other matters which may be assigned to him from time to time by the BoD.

i. Major events and important disclosures encountered during 2024

No significant events and disclosures to report outside usual business activities.

j. Emiratization percentage in the Group

A comprehensive review of the Emiratization strategy for 2024 has been conducted to ensure alignment with best practices followed by Abu Dhabi Government entities, focusing on targeted nationalized positions. The Group’s Emiratization approach has been refined with a methodology that prioritizes nationalized roles. This strategic enhancement reflects a dedication to industry best practices, ensuring that Emiratization efforts contribute meaningfully to organizational goals and the wider sector. Below is the attained Emiratization figures based on the new approach:

Year Emiratisation
2022 52%
2023 54%
2024 51.7%

k. Innovative Projects and Initiatives Undertaken

The management presented several initiatives that would add value to EMSTEEL Group’s business that are under review and evaluation by the executive management and the Board of Directors. Selected initiatives are set out below:

2024 Initiative Impact Category Description Benefits Status
Operational Excellences Improvement in EC
  • Environment/Long term Business Sustainability
  • Energy Cost Savings.
  • Productivity Improvement.
  • Quality Improvement
Enhancement of EC efficiency, reducing costs, and minimizing environmental impact through energy optimization, automation, raw materials substitution, and product quality improvement. It focuses on sustainability, process optimization, and improved asset management.
  • CO2 footprint reduction.
  • Reduction in Energy Cost.
  • Enhanced Productivity.
  • Improved Quality.
Started/Ongoing
Waste‑to‑Fuel Project with TADWEER
  • Environmental/ Long Term Business Sustainability
  • Production and Energy Cost Reduction.
Converting waste into sustainable energy for cement production and using construction waste as raw materials, by focusing on harnessing TADWEER Group’s production of Refuse Derived Fuels (RDF) and Construction and Demolition Waste (CDW) in EMSTEEL Group’s plants, including Al Ain Cement Plant and Emirates Block Factory.
  • CO2 footprint reduction.
  • Reduction in Energy Cost.
  • Reduce dependency on fossil fuels.
Signed MOU with TADWEER, targeting Q1 2026 for the AF pilot project launch.
ES Weighbridge Automation
  • Productivity
  • Cost Reduction
  • CO2 Emission
  • Digital Automation
Automating weighbridge operations to reduce truck waiting times, eliminate manual interventions and instantly generate invoices. Faster processing and increased accuracy. In progress. Launched Q4 2024
ES External Inbound Container Offloading
  • Cost Reduction
  • Efficiency Improvement
  • CO2 Emission
Directly offloading inbound containers at ESA to eliminate extra handling and transportation costs by installing a unique customized container offloading platform at the yard. Reduced costs and improved operational efficiency. Platform installation completed Q4 2024.

Hamad Abdulla Mohamed Alshorafa Al Hammadi

Chairman – Board of Directors

Abdulaziz Abdulla Ismail Mohamed Al Hajri

Chairman – Audit and Risk Committee

Ahmed Ali Mohamed Ali Al Shamsi

Chairman – Nomination and Rewards Committee

Kartikeyay Nath

Group Head of Internal Audit