Shareholders structure
- The UAE Government, through its ownership of the EIA, indirectly owns 39.5%. Of the Existing Shares;
- The Abu Dhabi Government, through its ownership of Mubadala, indirectly owns 19.75%. Of the Existing Shares;
- Dubai Holding, through its ownership of ECT, indirectly owns 19.5%. Of the Existing Shares.
- The remainder of the Shares are held by Public Shareholders comprising individuals who are UAE and non- UAE nationals and companies established in the UAE.
- The Company has only one wholly-owned subsidiary, EITC Investment Holdings Limited, a Jebel Ali Free Zone offshore limited liability company which was incorporated on 18 February 2010 and which, as at the date June 2010, remains inactive.
Our External Auditors
The external auditors’ role is to review the financial statements produced by the management of the company. They play a vital role in the financial oversight of the business because they are conducted by outside individuals and therefore provide an unbiased opinion. Hence, providing the independent review, the company in this sense illustrates good corporate governance.
The current external auditor of the company, KPMG UAE, was appointed by the General Meeting on 30th March 2011. KPMG firms are some of the world’s leading providers of Audit, Tax and Advisory services.
Main services provided to du by KPMG UAE are as follows:
- Audit of financial statements; and
- A review of interim condensed financial statements prepared in accordance with IAS 34, “Interim Financial Reporting”