Dubai Stock Exchange: Trading in “Arabtec” shares will continue to be...

– direct: The Dubai Financial Market announced today, Sunday, that based on the directives received from the Securities and Commodities Authority, trading in Arabtec Holding Company shares will continue to be suspended until further notice, according to a statement by the stock exchange.

The company announced this morning that it held a meeting of the Board of Directors last Thursday, October 8, and it was considered to move forward with the decisions and actions taken at the (last) General Assembly meeting, the most prominent of which are Liquidation of the company.

According to a press release issued by the company earlier, the company provided the Dubai Market with the decisions of the General Assembly that took place on Wednesday, September 30, It confirms the appointment of Walid al-Muqarrib Al Muhairi as a non-executive board member of the company.

The decisions stipulated that the board of directors or whoever delegated by the board, and before submitting to the court for bankruptcy, inform the stakeholders of the effects of that within a period not exceeding two months from the date of the meeting.

Previously, the Dubai Financial Market decided, after receiving the decisions of the General Assembly and publishing them on the market site, to continue to stop trading in Arabtec Holding shares until further notice, and the shareholders of Arabtec Holding also voted early this month in favor The non-continuity of the company and its dissolution due to its unstable financial conditions.


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