The general assembly of Al Khazna Insurance Company decided to reduce the capital and the company to continue its activities.
According to the company’s disclosure in Abu Dhabi Financial Market, shareholders agreed to reduce the capital from 420 million dirhams to 150 million dirhams to extinguish part of the accumulated losses, and use the legal reserve and bonus balance The entire release is to extinguish another part of the accumulated losses.
The shareholders also approved the capital increase of 50 million dirhams to 200 million dirhams by subscribing to new shares or by introducing new investors to the company with a value not exceeding 300 million dirhams, and the size of the investment should not exceed 900 million dirhams, while maintaining a share of the treasury company not less than 20% of the new company.
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