Dubai – Mubasher: Marka on Thursday said its ordinary general meeting (OGM) will convene later this month to discuss selling shares in one of its subsidiaries.
The OGM is scheduled to convene on 30 April, according to a statement to the Dubai Financial Market (DFM).
Shareholders will discuss selling Marka’s shares in Cheeky Monkey Playland to Evolvence Knowledge Investments LLC.
The OGM will also approve the board’s and auditors’ reports for the fiscal year ended 31 December 2016 and will elect a new board for the next three years and authorise it to take the necessary procedures and steps to implement the resolutions taken by the OGM.
Marka last reported widening its losses by 168.6% in 2016 to AED 149 million compared to AED 55.48 million in 2015.
The company was established in June 2014 with a capital of AED 500 million. It listed its stocks on the DFM in September 2014.
