By Ramy Sameeh
Abu Dhabi – Mubasher: UAE’s home builder Arabtec Holding said shareholders ratified on Wednesday the company’s financial position and the board’s report on business activity for the fiscal year 2015.
Shareholders also approved balance sheet and profit/loss statement for the same FY.
Board members and auditors were discharged from liability.
Arabtec said earlier it logged AED 2.78 billion in losses during 2015, against AED 241.58 million profit in 2014.
The company’s ordinary general meeting did not discuss any dividend distributions for FY15.
In 2014, Arabtec distributed 219.765 million shares or 5% of paid-in capital, as bonus issue.
Translated by Sayed Abdel Rahman
