Dubai-Mubasher: Gulf Navigation Holding postponed its shareholders’ meeting to be held on 11 instead of 4 January
During the ordinary general meeting, the shareholders will consider approving the board’s approval to issue mandatory convertible bonds amounting to AED 220 million ($60 million) at a nominal value of AED 1, provided that the value of first tranche will be AED 92 million ($25 million).
As a result, the board will be authorized to negotiate with creditors and determine the value of other tranches subject to a maximum of AED 128 million ($35 million).
