Multiply Group announced Monday that its shareholders have approved all resolutions presented at the company’s General Assembly Meeting (GAM), including the proposed acquisitions of 2PointZero Holding RSC Limited and Ghitha Holding PJSC through share-swap transactions.
The acquisitions form part of Multiply Group’s long-term strategy to expand scale, enhance portfolio synergies, and drive sustainable growth across key investment sectors.
As part of the approved resolutions, Multiply Group will issue 23.36 billion new shares, increasing its share capital from AED2.8 billion to AED8.64 billion to complete the transactions.
Shareholders also approved amendments to the company’s Articles of Association, a change of trade name to Two Point Zero Group P.J.S.C., and an expansion of the board of directors from five to nine members.
The approvals represent a key milestone in Multiply Group’s transformation into one of the region’s most diversified investment platforms. The combined entity, which will bring together Multiply Group, 2PointZero, and Ghitha Holding, will create a globally competitive business focused on energy and consumer sectors, supported by a significant alternative investment division.
Syed Basar Shueb, Chairman of Multiply Group, said: “Today’s shareholder approval reflects confidence in Multiply Group’s strategic direction and our commitment to long-term value creation. The acquisitions of 2PointZero and Ghitha strengthen our platform and position us to capture opportunities across transformative sectors.”
The General Assembly also authorised the Board of Directors to take all necessary steps to implement the approved resolutions, including executing the share-swap procedures, amending the Articles of Association, and listing the new shares on the Abu Dhabi Securities Exchange (ADX) following regulatory clearance.
With the shareholder approvals secured, Multiply Group is set to move forward with its integration plans, marking a significant step in its evolution into a unified, high-impact investment platform under its new identity as Two Point Zero Group.
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