Union Properties confirmed that it was not true what was circulated in some social networks regarding the company's business and its board of directors which negatively affect the trading in the capital markets in the country and economic security.
Ahmed Khoury, Managing Director of Union Properties, said: “The company operates in accordance with the laws and regulations in force in the UAE, the Securities and Commodities Authority and the Dubai Financial Market Authority. "The company will take all legal procedures and will apply to the authorities to prosecute the rumors and refer the owners to the competent authorities," he said, pointing out that the law affects the proponents of rumors and false news, and that economic rumors are more dangerous to society for what causes them. Its loss for companies and investors, as they damage the reputation of companies and the economy.
The Board of Directors of Union Properties announced earlier that the resignation of the Chairman of the Board of Directors, Mr. Nasser Bin Butti, will be considered on Thursday, September 26th, and will be passed on to pass his own business.
The company calls on all investors to avoid contributing to the dissemination of incorrect information about the company and solicit information from official authorities only. Anyone found to be involved in the republishing of rumors will be prosecuted for the benefit of the company and investors.