The general "Gulf Navigation" discusses the continuation of the activity
Gulf Navigation Holding Company said that its General Assembly will discuss the decision to continue the company or not, in accordance with the provisions of the Companies Law for the year 2015, during its meeting that will be held remotely on Thursday April 29, 2021.
The company stated in a statement on the Dubai Financial Market, that the Emirates obtained today a copy of it, today, Thursday, that its general assembly will also discuss authorizing members of the Board of Directors to examine the possibility of proceeding in the implementation of any investment opportunities.
The decision of the Board of Directors to form a joint committee for the "Empire Navigation" company will be discussed to discuss all the operational, financial and legal aspects after obtaining the required approvals from the regulatory authorities.
The company indicated that in the event that the accumulated losses reach half of the company's capital, the board of directors must invite the general assembly to consider taking a decision to continue the company's activity or to dissolve it.
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