Multiplay Group, an investment holding company, announced today that its shareholders have approved all resolutions presented during the general assembly meeting.
During the gathering, shareholders voted in favor of both ordinary and extraordinary decisions, including the acquisition of “2 Point Zero Holdings” and “Food Holdings” through a share swap agreement.
This acquisition is part of the group’s broader strategy to strengthen its asset base, achieve greater integration within its investment portfolio, and enhance long-term value sustainability.
As a result, Multiplay will issue 23.36 billion new shares, increasing its capital from 2.8 billion dirhams to 8.64 billion dirhams to finalize the two transactions. The approved decisions also included amendments to the company’s articles of association, a name change to “2 Point Zero Group, LLC,” and an increase in the board of directors’ membership from 5 to 9 members.
Key Milestone
The approval from shareholders represents a significant milestone in Multiplay’s journey to establish one of the most diverse and balanced investment platforms in the region. By merging Multiplay with “2 Point Zero” and “Food Holdings” into a unified structure, the group is creating a platform with global competitive capabilities, focusing on the energy and consumer sectors, supported by a wide-ranging alternative investment arm.
Growth Opportunities
Sayed Baser Shaib, Chairman of Multiplay Group, stated that the shareholder approval reflects their confidence in the strategic direction of the group. He emphasized the company’s ongoing and serious commitment to generate long-term value, highlighting that the acquisition of “2 Point Zero” and “Food Holdings” will strengthen their investment platform and enable them to seize promising growth opportunities in crucial transformation sectors.
The general assembly has empowered the board of directors to undertake all necessary actions to implement the approved resolutions, including share exchange procedures, amendments to the articles of association, and listing the new shares on the Abu Dhabi Securities Exchange, following the completion of regulatory requirements.