Dubai Financial: Trading in Arabtec shares – local economics – continues...

Dubai Financial: Trading in Arabtec shares – local economics – continues...
Dubai Financial: Trading in Arabtec shares – local economics – continues...

The Financial Market announced yesterday that it will continue to suspend trading in the shares of “Arabtec Holding Company” until further notice.

In turn, «Arabtec» announced in a disclosure published on the market’s website yesterday, that the company’s board of directors will meet tomorrow, Wednesday, to consider the decisions and procedures necessary for the purposes of implementing the decisions taken at the previous general assembly meeting.

The shareholders of “Arabtec” voted in the general assembly meeting held last Wednesday, in favor of the company’s non-continuity and its dissolution, given its unstable financial conditions.

The decision, which was voted on at the meeting, came after studying strategic options, based on a 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 the relevant stakeholders, before submitting the liquidation request to the competent courts. Even so, the company’s first focus will be to provide stability to the company’s employees and subsidiaries, subcontractors, suppliers, and other interested parties.

Follow our latest local and sports news, and the latest political and economic developments via Google news

Share

Print

Twitter
LinkedIn
Pin Interest
Whats App

These were the details of the news Dubai Financial: Trading in Arabtec shares – local economics – continues... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Hermes Research Tops Institutional Investor’s Best Frontier Market Ranking