The Board of Directors of Arabtec Holding, listed on the Dubai Financial Market, will discuss on Monday, October 19, all matters related to the company's liquidation plan.
The Dubai Financial Market announced earlier this week, that based on the directives received from the Securities and Commodities Authority, Arabtec shares will be suspended trading until further notice is received, according to To a statement to the stock exchange.
The company announced earlier this week that it had held a meeting of the board of directors on Thursday, October 8, 2020, and it was considered to move forward with the decisions and actions taken at the general meeting ( The latter), most notably the liquidation of the company.
and according to a press release issued by the company earlier, Arabtec provided the Dubai market with general decisions that took place at the end of last September, which confirmed the process of appointing Walid Al-Muqarrab Al-Muhairi as a member of the board Non-executive management of the company.
and the decisions stipulated that the board of directors or whoever delegated by the board, and before the court filing for bankruptcy, inform the stakeholders of the effects of this within a period not exceeding two months from the date of the meeting. / p>
and the Dubai Financial Market previously decided, after receiving the general decisions and publishing them on the market site, to continue to stop trading in Arabtec shares until further notice, and the company's shareholders voted in early October in favor of not The continuity of the company and its dissolution due to its unstable financial conditions.
