Arabtec Holding announced the postponement of the company’s general assembly meeting, which was scheduled to take place last Thursday, to Wednesday 30 September 2020.
The company stated, in a disclosure to the Dubai Financial Market today, that the reason for the delay is due to the lack of a quorum required for holding the general assembly.
It is decided that the General Assembly will discuss all the options available to the company, whether in continuity, dissolution or otherwise in light of the current situation, and according to the provisions of the Commercial Companies Law and its amendments, and the laws, decisions and regulations in force in the country, and authorizing the Board of Directors to implement the option that is approved in the meeting and presenting to the competent authorities Requests required by the laws in force in the state.
The General Assembly will also discuss during its meeting the report of the Board of Directors on its financial position and the obligations owed by it.
The appointment process implemented by the Board of Directors for Walid Al Muhairi as a non-executive Board Member will also be discussed.
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