Fresh setback for Gulf Navigation as recovery plan stalls | The National:
"Gulf Navigation’s plans to stay afloat hit a fresh obstacle after the company failed to gain shareholder approval for its recovery plans.
The company announced yesterday that an extraordinary general meeting (EGM) scheduled to take place last Thursday has been postponed, after it failed to reach the required attendance of shareholders holding at least 50 per cent of the company’s capital. The meeting has been rescheduled for January 5.
“It’s very disheartening,” said Sandeep Kadwe, Gulf Navigation’s managing director. “We were only short by a couple of per cent.”"
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