Six shares jumped on the Dubai Stock Exchange during today’s trading session, led by the Dubai Islamic Insurance and Reinsurance Company – Aman by 2.75%, then Gulf Navigation Holding Company by 2.39%, while 23 stocks fell, led by the Union Real Estate Company by 4.86%, then The shares of Ithmaar Holding Company increased by 4.76%, while the share of Emaar Properties topped the list of the most traded by value, with a volume of 13.6 million papers valued at 37.1 million dirhams, and the share declined by 1.80%.
In a related context, Emaar Properties said, in response to the news reported by some media outlets about canceling a land deed with an area of 13 million square meters for a subsidiary of Emaar Properties, that although Emaar is not aware of the news, the land is not currently owned by Emaar or the company. Affiliate, and has no material influence on Emaar.
In another context, the International Financial Consulting Company said that the company paid in kind through an external unlisted asset with a value of KWD 2.9 million, according to the estimated value of the investment manager for a portion of its owed by the company in favor of a foreign bank, and this repayment results in a profit of 10.2 One million Kuwaiti dinars, which is a deduction from the amount of the debt as a result of this payment, and negotiations are underway on restructuring the rest of the debt in its entirety, and therefore the financial impact will be reflected in the third quarter of the current year 2020.
In a separate statement, Oman Insurance Company said that the company’s board of directors decided to invite to the general assembly meeting of the company’s shareholders on November 4, as a date for its convening to consider adopting a special decision to amend some articles of the company’s articles of association, in consultation with the Securities and Commodities Authority and the relevant authorities. And after obtaining her consent.
In the same context, the shareholders of Arabtec Holding Company voted, last Thursday, at the General Assembly meeting in favor of the company’s non-continuity and its dissolution, due to its unstable financial conditions, and the decision that was voted upon at the meeting came after studying various strategic options by the Board of Directors based on Financial analysis approved by specialists in restructuring operations “Alex Partners”. The decision gives the company’s board of directors a maximum period of two months to negotiate with relevant stakeholders before submitting the liquidation request to the competent courts. Until that time, the company’s first focus will be providing stability to the company’s employees, subsidiaries and subcontractors. Suppliers and other interested parties.
While Arabtec Holding Company announced that the company’s board of directors will hold a meeting on Wednesday, October 7, in order to consider the decisions and procedures necessary for the purposes of implementing the decisions taken at the general assembly meeting.
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