Dubai – Mubasher: Drake & Scull International (DSI) postponed its shareholders’ meeting to Thursday, 4 May, due to incomplete quorum, according to a bourse statement.
The shareholders will discuss the board’s proposal to reduce the AED 2.28 billion issued capital by 50% or AED 1.142 billion.
The shareholders will also consider the entry of a strategic investor, the company said, adding that the proposal includes the issue of shares for the strategic investor at AED 0.43.
The investor will receive 1.62 billion shares for a paid-in amount of AED 500 million.
