Arabtec: Postponing the Board of Directors meeting to next Sunday

Arabtec Holding announced that the date of its Board of Directors, which was scheduled to be held on Monday, October 19, 2020, has been postponed to Sunday, October 25, 2020 at two o'clock in the afternoon.

According to the company’s statement to the Dubai Financial Market, the board of directors will discuss during the meeting all matters related to the liquidation plan.

It is decided that the Board will consider during the meeting the decisions and procedures necessary for the purposes of implementing the decisions taken at the last general assembly, according to the market statement.

It is noteworthy that the general assembly of the company, which was held last Wednesday, which coincided with the 30th of September, decided that the company would not continue and authorized the Board of Directors to submit a request to the court to declare the company bankrupt, liquidate it, and appoint a (liquidator) for the company.

The decisions stipulated that the board of directors or whoever delegated by the board, and before submitting to the court for bankruptcy, inform the stakeholders of the effects of that within a period not exceeding two months from the date of the meeting.

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