Mubasher: Arabtec Holding will hold a board meeting on Sunday, 12 March, to review the company's business continuity, as well as the latest updates for restructuring the company's capital, according to a bourse statement issued on Wednesday.
The board’s decision will follow the approval of the Securities and Commodities Authority (SCA) of the UAE, the statement said.
In early March, Arabtec had placed a three-year plan to improve its financial position.
The company’s recent income statements showed that accumulated losses have reached more than AED 4.6 billion; a value that is close to the capital.
