Emirates News, Emirates News, “DXB” is discussing, Tuesday, the implementation of the decisions of the General Assembly of the Emirates. Source of the news – Emirates – the statement with details of the news.
The company stated in a statement yesterday, the Dubai Financial Market, that the decisions include approval of transferring the priority bank debt to 53.4 billion new ordinary shares with a nominal value of one dirham per share in the company’s capital at a conversion rate of 0.08 dirhams per share, and increasing the company’s issued capital by 53.4 billion. Dirhams to become 62.8 million dirhams.
The decisions also include amending Article 5/1 of the Articles of Association, and delegating each of the Chairman of the Board of Directors and the Acting Executive Director and any other person delegated by them, collectively or individually, with the delegated authority to take all steps and adopt all necessary decisions as necessary to implement the decisions of the General Assembly, And submit an application to the Securities and Commodities Authority to obtain a certificate confirming the increase in the capital and approval of the listing of the new shares.
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