Abu Dhabi-Mubasher: Abu Dhabi National Insurance Company (ADNIC) said that its shareholders will meet on 15 February to discuss a possible issue of mandatory convertible bonds worth AED 390 million ($106.2 million).
The bonds will be issued for the company's shareholders exclusively, according to a bourse filing on Sunday.
During the ordinary general meeting, shareholders will also discuss the board’s proposal to transfer AED 350 million from general reserve to retained earnings.
If the quorum is not present, the meeting will be rescheduled for 22 February.
