Dubai – Mubasher: Gulf General Investment Co (GGICO) on Monday announced that it plans to approach the accounts department of Dubai Courts Execution to get a certificate that clarifies the amount it shall pay for the case raised against it by Maydeen Investments.
The company also highlighted the discrepancy between the original amount claimed of AED 88.98 million and the execution amount of AED 113.785 million regarding this case, according to a statement to the Dubai Financial Market (DFM).
Trades on GGICO’s stock have been suspended until further details regarding the case are revealed.
GGICO previously reported its unaudited consolidated interim financial results for the first half of 2019, trimming its losses to AED 59.12 million from AED 79.71 million in H1-18.
