Abu Dhabi – Mubasher: Eshraq Properties on Thursday announced that neither its board nor its general assembly voted any capital reduction.
Some news had reported a reduction of share capital by 57%, in a way to absorb losses, the company said in a statement to the Abu Dhabi Securities Exchange (ADX).
Eshraq Properties also announced that its losses in the second quarter of 2017 amounted to AED 1.01 billion only, not AED 1.45 billion as provided in the news, noting that they overstated the losses by 43%.
The ADX-listed company had achieved a decline in its losses to AED 318,000 in H1-17, as compared to AED 102.4 million in the year-ago period.
