Dubai-Mubasher: Drake and Scull International (DSI) denied the appointment of any legal advisor for bringing in a strategic investor or issuance of mandatory convertible bonds, according to a bourse statement.
In it normal course of business, the company engages consultants and advisors to review its strategy and operations, as well providing financing solutions.
“Drake & Scull has held informal talks with advisers in recent weeks on a possible business review and on finding new equity for the company ”, Reuters quoted chief financial officer Kailash Sadangi as saying, adding that "an issue of mandatory convertible bonds is among options being considered".
