Dubai's Drake & Scull shareholders to decide whether to dissolve firm | Reuters:
Shareholders of loss-making Dubai construction company Drake & Scull will meet on Sept. 27 to decide whether to dissolve the company, Drake & Scull announced on Wednesday.
The company, which posted a second-quarter net loss of 181.1 million dirhams ($49.3 million) compared to a year-earlier loss of 182.7 million dirhams, said it was calling a general assembly under an article of United Arab Emirates company law.
The law requires companies to vote on whether they should continue operating if their accumulated losses have reached half of their issued share capital.
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