Dubai's Drake & Scull shareholders set to vote on firm's future

12/09/2018 Argaam

 

Shareholders of Drake & Scull will meet on Sept.27 to decide whether to dissolve the company or let it continue its activities, the Dubai-based construction company said in a statement posted on Dubai Financial Market on Wednesday.

 

The company, which posted a Q2 2018 net loss of $49.3 million, said it was calling a general assembly under an article of UAE's Company Law.  

 

Additionally, the board will also inform its current situation and plans to the shareholders, as well as developments in an investigation by its new management of the previous management, the statement added.  

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