Shareholders back latest restructuring plan for Dubai's Drake & Scull | ZAWYA MENA Edition:
Heavily-indebted contracting firm Drake & Scull has said that its board has passed a restructuring plan that will allow the company to continue trading.
A notice informing the Dubai Financial Market (DFM) of resolutions passed at a company board meeting on Monday stated that a restructuring plan approved by its chairman was backed by a majority of attendees, who also gave approval for the “continuation of the company in carrying out business”.
The majority of shareholders also backed a resolution to give board directors the right to “liquidate/close/sell certain branches of the company or subsidiaries according to the restructuring plan”, according to the announcement.
Heavily-indebted contracting firm Drake & Scull has said that its board has passed a restructuring plan that will allow the company to continue trading.
A notice informing the Dubai Financial Market (DFM) of resolutions passed at a company board meeting on Monday stated that a restructuring plan approved by its chairman was backed by a majority of attendees, who also gave approval for the “continuation of the company in carrying out business”.
The majority of shareholders also backed a resolution to give board directors the right to “liquidate/close/sell certain branches of the company or subsidiaries according to the restructuring plan”, according to the announcement.
No comments:
Post a Comment