Arabtec is proceeding with the procedures of liquidating the company
"Arabtec Holding" announced in a statement to the Dubai Financial Market that it had held a meeting of the company's board of directors on Thursday, October 8, at three in the afternoon, in which it was considered to proceed with the decisions and measures taken at the (last) General Assembly meeting, most notably the liquidation of the company.
The company had provided the Dubai market with the decisions of the general assembly that took place last Wednesday, September 30th.
- The lack of continuity of the company, and the authorization of the Board of Directors to submit a request to the court to declare the company bankrupt and liquidate it, and to appoint (Alex and Partners) and (Matthew Wild), or any other person or party designated by the Board of Directors according to what it deems appropriate as a liquidator, provided that the Board of Directors or whomever it authorizes The Board and before submitting the bankruptcy application to the court, informing the stakeholders of the effects of that within a period not exceeding two months from the date of the meeting.
Authorizing the Board of Directors or any person or persons delegated by the Board, collectively or separately, to take all necessary decisions and actions, and to submit the necessary requests on behalf of the company for the purposes of implementing the decisions taken at the general meeting.
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