IHC confirms Fount Trust as ultimate parent after ownership restructuring

Abu Dhabi-listed IHC has announced that Fount Trust is now its ultimate parent company following a restructuring above Royal Group, though this change does not impact the company's ultimate ownership, operations, or strategic direction. The ownership structure remains unchanged up to Royal Group, with Pal Group of Companies continuing to hold a majority stake in IHC, and Royal Group maintaining a majority stake in Pal Group of Companies.

Despite the restructuring, IHC's board of directors and executive management will continue to steer the company under its current corporate governance framework. The company remains listed on the Abu Dhabi Securities Exchange and subject to the same reporting and disclosure requirements as before. IHC CEO Syed Basar Shueb stated that the new structure aims to create a long-term framework capable of generating value across generations.

He emphasized the importance of clear responsibilities and an ownership model that can withstand changes in personnel and circumstances. The establishment of Fount Trust provides IHC with a long-term stewardship framework while allowing Royal Group to continue its role within the ownership structure. IHC's restructuring is intended to offer a consistent ownership base for long-term stewardship, particularly for a business with a long-term investment horizon.

The company believes that continuity in ownership can facilitate patient investment, longer-term partnerships, and the development of capabilities over time, while maintaining the alignment of ownership interests. IHC's focus remains on disciplined execution, the ability to adapt and invest, and building lasting value for shareholders.

The board and management will continue to exercise their responsibilities through the existing governance processes.