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Drake & Scull International P.J.S.C

DSI
1.740
-0.030
-1.690%
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  • Market: DFM
  • Symbol: DSI
  • ISIN: AED001101016
  • Sector: Real Estate & Const.

Company Brief

Country of Origin: United Arab Emirates (U.A.E)

Drake and Scull International PJSC (“the Company” or “the Parent Company”) was incorporated on 16th November 2008 and was registered on 21st January 2009 as a Public Joint Stock Company in accordance with the UAE Federal Law No. 8 of 1984, (as amended). The Company is listed on Dubai Financial Market.

Drake & Scull International PJSC (DSI) is a regional market leader delivering world class quality projects via end to end solutions that provide integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail, Water and Wastewater Treatment, Waste to Energy and Oil and Gas.

Key Facts

ESTABLISHED

Nov 16, 2008

AUDITOR

PWC

FISCAL YEAR END

DECEMBER

REGISTRAR

National Bank of ABU DHABI

Board Members

CHAIRMAN
Mr. Abdulla Atatreh

VICE CHAIRMAN
Mr.Ahmed Saeed Al Hamiri

MEMBERS

Mr. Abdulla Fareed Algurg
Mr. Mohammed Atatreh
Mr. Ahmad Al Kilani
Mr. Saad Mohammad Albastaki
Mr. Khamis Buamim



Top Management


Chief Financial Officer (CFO)
Mr. Feras Kalthoum

 


 

Equity Profile

DATE OF LISTING

Mar 16, 2009

SECTOR

Realest. & Construction

AUTHORIZED CAPITAL:

1,070,987,747.00 AED

ISSUED SHARES

1,070,987,747.00 

PER VALUE SHARE

1.00 AED

Subsidiaries

Drake & Scull International LLC (Abu Dhabi)

UAE

100.00 %

Gulf Technical Construction Company LLC

UAE

100.00 %

Drake & Scull Engineering formerly Drake & Scull Water and Power LLC

UAE

100.00 %

Drake & Scull International (Qatar) WLL

Qatar

100.00 %

Passavant Energy & Environment and its subsidiaries (a subsidiary of Passavant Engineering Limited)

Germany

100.00 %

Drake & Scull International WLL

KSA

65.00 %

Drake & Scull International for Electrical Contracting WLL

Kuwait

100.00 %

International Center for Contracting Co. Ltd

KSA

100.00 %

Drake & Scull Construction Company LLC

KSA

91.00 %

Drake & Scull International for Contracting SAE

Egypt

100.00 %

Drake & Scull International LLC (Oman)

Oman

51.00 %

Contact Details

Head Office

Dubai - UAE

Address

International Media Production Zone (IMPZ), PO Box 65794, Dubai, UAE

Phone No.

04 4463444

Fax No.

04 5514854

Email address:

corporate@drakescull.com

Website

http://www.drakescull.com

Showing Last 10 Disclosures - DSI View all
DSI 15-11-2017 08:36 AM

Press release regarding financial results for the 3rd QTR of 2017

1 File(s)
DSI 15-11-2017 08:36 AM

Financial statements for the 3rd QTR of 2017

1 File(s)
DSI 15-11-2017 08:27 AM

Results of BOD meeting including interim condensed consolidated financial statements for the 3rd QTR of 2017

2 File(s)
DSI 12-11-2017 08:54 AM

Notification from the company

1 File(s)
DSI 09-11-2017 09:08 AM

BOD meeting

1 File(s)
DSI 16-10-2017 08:06 AM

Results of BOD meeting

1 File(s)
DSI 10-10-2017 08:10 AM

BOD meeting

1 File(s)
DSI 04-10-2017 07:57 AM

Press release

1 File(s)
DSI 03-10-2017 03:36 AM

Notification from the company regarding the share of Tabarak Investment LLC

1 File(s)
DSI 27-09-2017 08:23 AM

Press release

1 File(s)
Showing Last 10 Issuer News - DSI View all
DSI 21-08-2017 08:24 AM

Press release

1 File(s)
DSI 01-08-2017 08:03 AM

Press release

1 File(s)
DSI 01-11-2016 08:42 AM

Press release

1 File(s)
DSI 23-12-2015 08:01 AM

Press release regarding a subsidiary of DSI

1 File(s)
DSI 09-12-2015 08:28 AM

press release regarding a subsidiary of DSI

1 File(s)
DSI 24-11-2015 08:15 AM

Press release

1 File(s)
DSI 21-10-2015 08:25 AM

Press release regarding a subsidiary of DSI

1 File(s)
DSI 28-09-2015 08:23 AM

Press release regarding a subsidiary of DSI

1 File(s)
DSI 08-09-2015 08:32 AM

Press release

1 File(s)
DSI 01-06-2015 08:38 AM

Press release regarding a subsidiary of DSI

1 File(s)
Showing Last 10 Financial Reports - DSI View all
DSI 15-11-2017 08:36 AM

Financial statements for the 3rd QTR of 2017

1 File(s)
DSI 30-06-2017 10:40 AM

Financial statements for the 2nd QTR of 2017

1 File(s)
DSI 15-05-2017 10:30 AM

Financial statements for the 1st QTR of 2017

1 File(s)
DSI 30-03-2017 10:30 AM

Financial statements for the year of 2016

1 File(s)
DSI 30-09-2016 10:30 AM

Financial statements for the 3rd QTR of 2016

1 File(s)
DSI 30-06-2016 01:45 AM

Financial statements for the 2nd QTR of 2016

1 File(s)
DSI 01-05-2016 12:09 AM

Financial statements for the 1st QTR of 2016

1 File(s)
DSI 11-04-2016 02:30 AM

Financial statements for the year of 2015

1 File(s)
DSI 15-11-2015 03:30 AM

Financial statements for the 3rd QTR of 2015

1 File(s)
DSI 12-08-2015 03:30 AM

Financial statements for the 2nd QTR of 2015

1 File(s)
Showing Last 10 General Meetings - DSI View all
Meeting Date/TimeSep 09, 2017 03:00:00 PMType of MeetingGeneral Assembly
Net Profit/Loss-815 millionCash Dividend0
Bonus Share0
Announcements/Resolutions

1.      To approve theamendment of the resolution no. 11 issued by the Annual General Assembly of theCompany held on 4 May 2017 which states:

 

“To approve the opening of the nomination period of the Board of Directors’ membershipby the remaining members of the Board of Directors and invite the General Assemblyto elect a new Board of Directors following the completion of the capitalincrease in favor of the shareholders in coordination with the Securities andCommodities Authorities.” To become “Invite the General Assembly to elect a newBoard of Directors as needed and in accordance with the law."

 

Resolution:

 

Itwas resolved unanimously by the attendeesto open the nomination period of the Board of Directors membership by theremaining members of the Board of Directors and invite the General Assembly toelect a Board of Directors as needed and in accordance with the law.

 

 

2.      To approve the appointment of Mr.Khamis Buamim in lieu of Mr. Talal Al Bahar, and Mr. Mohammed Atatreh in lieuof Mr. Khalaf Al Dhahiri in the board of directors of the Company.

 

Resolution:

 

Resolvedunanimously by the attendees to appoint Mr. KhamisBuamim in lieu of Mr. Talal Al Bahar, and Mr. Mohammed Atatrehin lieu of Mr. Khalaf Al Dhahiri in the board of directors of theCompany.

 

3.      To elect four (4) members of theboard to fill in the vacant positions as a result of the resignation of:

        Mr. Khaldoun Tabari – Vice- Chairman

        Mr. Yousef Al Nowais - Member

        Mr. Khalifa Khouri – Member

        Mr. Ivor Goldsmith – Member

         

Resolution:

 

Thefollowing candidates received the highest votes and, therefore, were elected asthe new four (4) members of the board to fill in the vacant positions andcomplete the term of their predecessor in the BOD as follows:

        Mr. Ahmed Al Kilani – Independent Member

        Mr. – Abdulla Atatreh-Independent Member

        Mr. Ahmed Saeed Al Hamiri – Independent Member

        Mr. Saad Albastaki – Independent Member

 

 

4.      To approve theundertaking of the Company’s activities in accordance with the provisions ofthe Islamic Shariah, and authorize the board of directors to appoint aconsultant to ensure the compliance thereof.

 

Resolution:

It was resolved unanimouslyby the attendees toundertake the Company’s activities in accordance with the provisions of theIslamic Shariah, and authorize the Board of Directors to appoint a consultantto ensure the compliance thereof.

 

5.      To review the report of the auditorswith respect to the reduction of the share capital of the Company in accordancewith Article (202) of the Commercial Companies Law no. (2) of 2015.

 

Resolution:

It was resolved unanimouslyby the attendees to review the report of the auditorswith respect to the reduction of the share capital of the Company in accordancewith Article (202) of the Commercial Companies Law no. (2) of 2015and the majority attendances ratified the same.

6.      To review the Board of Directors’report with respect to the reduction of 75% ofthe paid-up share capital (AED 2,285,046,667) by the equivalentamount of the Company’s accumulated losses (AED 1,714,058,920) (as of 31 March2017), and amend the articles of association accordingly.

7.       

Resolution:

It was resolved unanimouslyby the attendees to review andapprove theBoard of Directors’ report with respectto thereduction of 75% of the paid-up share capital(AED2,285,046,667) by the equivalent amount of the Company’s accumulated losses(AED 1,714,058,920) (as of 31 March 2017), and amend the Articles of Associationaccordingly, and approved to authorize the new Boardof Directors to determine the date of the reduction.

8.      Special Resolution: Toapprove deleting Article 49/3 of the Articles of Association of the Company inline with The Chairman of theSecurities and Commodities Authority's Board of Directors' ResolutionNo. (7 R.M) of 2016 Concerning the Standards of Institutional Discipline andGovernance of Public Shareholding Companies.

 

SpecialResolution:

Itwas resolvedunanimously by the attendees todelete Article 49/3 of the Articles of Association of the Company in line withThe Chairman of theSecurities and Commodities Authority's Board of Directors' ResolutionNo. (7 R.M) of 2016 Concerning the Standards of Institutional Discipline andGovernance of Public Shareholding Companies after obtaining the approvalof the Securities and Commodities Authority.

9.      Special Resolution: To ratify the validity and continuity of theresolutions of the Annual General Assembly of the Company dated 4 May2017 regarding the capital increase by AED 500million through the issuance of 500 million new shares to be subscribed at parvalue AED 1 per share (the “Subscription Shares”), and the approval of the enteringof Tabarak Investment owned by Tabarak Commercial Investment SPC (LLC)  as a strategic shareholder in the Company andthe approval of the subscription by Tabarak of 500 million shares at value AED500 million following the approval of the Securities and CommoditiesAuthorities on the capital reduction which will not be less, in aggregate, thanAED 1,713,553,000  through thecancellation of not less than 1,713,553,000 shares of the Company’s sharecapital.

 

SpecialResolution:

It was resolved unanimouslyby the attendees to ratify the validity and continuity of theresolutions of the Annual General Assembly of the Company dated 4 May2017 regarding the capital increase by AED 500million through the issuance of 500 million new shares to be subscribed at parvalue AED 1 per share (the “Subscription Shares”), and the approval ofthe entering of Tabarak Investment owned by Tabarak Commercial Investment SPC(LLC) (“Tabarak”)  as a strategic shareholderin the Company and the approval of the subscription by Tabarak of 500 millionshares at value AED 500 million following the approval of the Securities andCommodities Authorities on the capital reduction which will not be less, inaggregate, than AED 1,713,553,000 through the cancellation of not less than 1,713,553,000 shares of theCompany’s share capital  and allthe constituents  mentioned in thisresolution are subject to the approval of the Securities and CommoditiesAuthority.

 

10.  Special Resolution: Toapprove the issuance of the Subscription Shares at once provided that Tabarak willpay the amount of the subscription in two instalments as follows:

 

 

a.      First instalment: FourHundred Million Dirhams to be paid before the issuance of Subscription Shares.

 

b.     Second instalment: OneHundred Million Dirhams to be paid either in ten days from date of theobtaining the approval of the Securities and Commodities Authority on thecapital reduction by issuing a certificate of reducing the capital of theCompany as described above, and amending the Articles of Association of theCompany and implementing the reduction in the Dubai Financial Market, or by nolater than 16 September 2017, which falls later.

 

Special Resolution:

Itwas resolved unanimously by the attendeesto approve the issuance of the Subscription Shares in one tranche provided that Tabarak willpay the amount of the subscription in two instalments as follows:

 

a.       Firstinstalment: Four Hundred Million Dirhams to be paid before the issuance ofSubscription Shares.

 

b.      Secondinstalment: One Hundred Million Dirhams to be paid either in ten days from thedate of obtaining the approval of the Securities and Commodities Authority onthe capital reduction by issuing a certificate of  the capital  reduction of the Company as described above,and amending the Articles of Association of the Company and implementing thereduction in the Dubai Financial Market, or by no later than 16 September 2017 (whicheverfalls later), after obtaining the approval of the Securities and CommoditiesAuthority.

 

11.  To authorize the Board ofDirectors to take all required decisions, actions and steps, and to sign allundertakings, guarantees, contracts and agreements to implement the decisionsmentioned-above including the issuance of the subscription shares under thename of Tabarak Investment LLC and amending the Articles of Association of theCompany following the capital increase and reduction, and to liaise with theprivate and public authorities including the Securities and CommoditiesAuthority, the Department of Economic Development in Dubai and Dubai FinancialMarket to obtain the required approvals in order to complete the process of thecapital reduction and increase and the introduction of the strategic partner“Tabarak Investment LLC”, and the registration and listing of the new sharesand the cancelation of the shares for the purposes of the Company’s capitalreduction. In addition, to authorize the Board of Directors to negotiate andenter into settlements with any of the Company’s creditors as the Board ofDirectors deems appropriate.

 

Special Resolution:

Itwas resolved unanimously by the attendeesto authorizethe Board of Directors to take all required decisions, actions and steps, andto sign all undertakings, guarantees, contracts and agreements to implement theresolutions mentioned-above including the issuance of the subscription sharesunder the name of Tabarak Investment LLC and amending the Articles ofAssociation of the Company following the capital increase and reduction, and toliaise with the private and public authorities including the Securities andCommodities Authority, the Department of Economic Development in Dubai andDubai Financial Market to obtain the required approvals in order to completethe process of the capital reduction and increase and the entering of thestrategic shareholder Tabarak and the registration and listing of the newshares and the cancelation of the shares for the purposes of the Company’scapital reduction. In addition, to authorize the Board of Directors to negotiateand enter into settlements with any of the Company’s creditors as theconditions the Board of Directors deems appropriate after obtaining theapproval of the Securities and Commodities Authority.

 

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueWest In Hotel - Mena Seyahi - Dubai
1 File(s)
Meeting Date/TimeMay 04, 2017 04:00:00 PMType of MeetingGeneral Assembly
Net Profit/Loss-815 million Cash Dividend
Bonus Share
Announcements/Resolutions

1. Review and approve the Board of Directors’ report regarding the Company’s activities and the financial positionfor the year ended 31 December 2016.

Resolution:

The Board of Director’s report regarding the Company’s activities and its financial position for the year ending 31 December 2016 has been reviewed and unanimously ratified.


2.  Review and approve the report of the External Auditors with respect with the Company’s financial year ended 31December 2016.

Resolution:

The report of the external auditors in respect with the Company’s financial year ending 31 December 2016 has been reviewed and unanimously ratified.


3.Discuss and approve the balance sheet and the profit and loss account of the Company for the financial yearended 31 December 2016.

Resolution:

The balance sheet and the profit and loss account of the Company for the financial year ending 31 December 2016 hasbeen unanimously ratified.


4-Absolve the members of the Board of Directors of their liability with respect to their work for the period ended 31 December 2016.

Resolution

The majority attendees approved to absolve the members of the Board of Directors of their liability in respect of their work for the period ending 31 December 2016.


5. Absolve the External Auditors oftheir liability with respect to their work for the period ending 31 December 2016.

Resolution:

Absolved unanimously the External Auditors fromliability for the financial year ended 31 December 2016.

 

6.Appoint the External Auditors ofthe Company for the year 2017 and determine their remuneration.

Resolution:

Approved unanimously the reappointment of PWC (PriceWaterhouse Coopers) as the external auditors of the Company for the year 2017and approved their annual fees.


7.Special resolution: Review the External Auditors report with regards to the accumulated losses of the Companyand approve the reduction of the paid-up share capital by the equivalent amountof the Company’s accumulates losses (AED 991,553,000) through the cancelation of the corresponding number of shares after obtaining the approval of the Securities and Commodities Authority and authorize the Company’s Board of Directors thereafter to undertake all necessary procedures and steps to duly completethe share capital reduction in accordance with the UAE Commercial Companies lawand undertake the required amendments to the Articles of Association of theCompany to reflect the share capital reduction.

Note:the shareholders of the Company requested an enclosure to the special resolution to approve a subsequent share capital reduction by an amount that does not exceed AED 722 million pertinent to potentially unrecoverable receivables specifiedin the qualification note of the external auditors report in the consolidatedfinancial report for the year ended 31 December    2016 which will beconverted to losses for the Company.

Resolution:

Approved unanimously the reduction of the paid-up sharecapital by the equivalent amount of the Company’s accumulated losses (AED 991,553,000) through the cancelation of the corresponding number of shares and approved a subsequent share capital reduction  of anamount which does not exceed AED 722 million after obtaining the approval of the Securities and Commodities Authority `through the cancelation of the corresponding number of shares by an amount that does not exceed AED 722 million pertinent to  potentially unrecoverable receivables specified in the qualification note of the external auditors report in the consolidated financial report for the year ended in 31stDecember 2016 which will be converted to losses for the Company and authorized the Company’s Board of Directors thereafter to undertake all necessary procedures and steps to duly complete the share capital reduction in accordance with the UAE Commercial Companies law and undertake the required amendments tothe Articles Association of the Company to reflect the share capital reduction.


8.Special resolution: Review theBoard of Directors’ report on the financial position of the Company in light of the proposed share capital increase and approve the share capital increase byAED 500 million through the issuance of 500 million new shares to be subscribed at par value AED 1 per share and to be offered to all the shareholders of the Company; and to be fully offered to Tabarak Investment LLC under the same terms should the shareholders of the Company express no interest in subscribing forthe newly issued shares after reviewing the Board of Directors report with respectto the benefits of the entry of the strategic partner as a shareholder of theCompany and authorize the Board of Directors to obtain all the required approvals from the concerned authorities where the capital increase will beexecuted after the completion of the share capital reduction and the increaseof the share price of the Company as a  result of the cancelation of  (991,553,000) shares and the reduction of the share capital respectively.


 Resolution:

Offered the shareholders the proposed share capital increase by AED 500 million through the issuance of 500 million new shares tobe subscribed at par value AED 1 per share, whereas the shareholders of the Company expressed unanimously no interest in subscribing to the newly offered shares and conceded to offer the new shares to the strategic partner Tabarak Investment LLC , whereas Tabarak Investment LLC agreed to buy 500 million shares for an amount of AED 500 million subsequent to the approval of the Securities and Commodities Authorities on the proposed capital reduction which will not exceed AED 722 million , Tabarak Investment LLC will withdraw the offer to buy 500 million shares for AED 500 million in the event of the disapproval of the proposed capital reduction.


9.Approve the reduction of thenumber of the Board of Directors from nine members to seven members andundertake the required amendments to the Articles of Association of theCompany. 

Resolution:

Approved unanimously the reduction of the Board of Directors from nine (9) members toseven (7) members and undertake the required amendments to the Articles ofAssociation of the Company accordingly.


10.Delay the resignation approval of the remaining members of the current Board of Directors.

Resolution:

Approved unanimously to delay the resignation approval of the remaining members of the Boardof Directors.


11.Approve the commencement of the election period for the Board of Directors membership by the remaining members of the Board of Directors and invite the shareholders for a new General Assembly meeting after the completion of the capital increase to the shareholders incoordination with the Securities and Commodities Authorities. 

Resolution:

Approved unanimously the commencement of the election period for the Board of Directors membership by the remaining members of the Board of Directors and invite the shareholders for a new General Assembly meeting  to elect the new Board of Directors after thecompletion of the capital increase to Tabarak Investment LLC in coordination with the Securities and Commodities Authority.


12.Authorize the remaining Board membersof the current Board of Directors to undertake all the necessary requirements to complete the proposed capital increase and capital decrease of the sharecapital of the Company.

Resolution:

Approved unanimously to authorize the remaining members of the current Board of Directors to undertake all the necessary requirements to complete the proposed capitalincrease and capital decrease of the share capital of the Company.


Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueWestin Hotel, Jumeriah, Dubai
1 File(s)
Meeting Date/TimeMay 08, 2016 05:00:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss(938,823) Million Cash Dividend
Bonus Share
Announcements/Resolutions

  1. The Board of Director’s report regarding the Company’s activities and its financial position for the year ending 31 December 2015 has been reviewed and approved
  2. The report of the external auditors in respect with the Company’s financial year ending 31 December 2015 has been reviewed and approved
  3. The balance sheet and the profit and loss account of the Company for the financial year ending 31 December 2015 has been approved
  4. The shareholders approved to absolve the members of the Board of Directors of their liability in respect of their work for the period ending 31December 2015
  5. The shareholders approved to absolve the external auditors of their liability in respect of their work for the period ending 31 December 2015
  6. The shareholders approved the reappointment of Price Waterhouse Coopersas the external auditors of the Company for the year 2016 and approved their annual fees
  7. Special resolution:
    • The shareholders approved to amend the Memorandum and Articles of Association of the Company in order to comply with the new Federal Companies Law number 2 of 2015 after obtaining the approval of the concerned authorities

 

 

 

 

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueWestin Hotel , Jumeirah Dubai
1 File(s)
Meeting Date/TimeApr 26, 2015 06:00:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss100,672,000.00Cash Dividend
Bonus Share
Announcements/Resolutions

1.        The Board of Director’s report regarding the Company’s activities and its financial position for the year ending 31 December 2014 has been reviewed and approved.

2.        The report of the external auditors in respect with the Company’s financial year ending 31 December 2014 has been reviewed and approved.

3.        The balance sheet and the profit and loss account of the Company for the financial year ending 31 December 2014 has been approved.

4.        The shareholders approved to absolve the members of the Board of Directors and external auditors of their liability in respect of their work for the period ending 31 December 2014.

5.        The shareholders approved to reappoint Price Waterhouse Cooper as auditors for 2015.

6.        The shareholders approved the extension of the board mandate for a period of 45 days from the date of this Annual General Assembly meeting and empowered the board of directors to re-elect new board members by opening the election process and calling for General Assembly meeting to elect new board members. The shareholders further empowered the current board of directors to manage the day to day of business of the Company.

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueFairmont the Palm
1 File(s)
Meeting Date/TimeMay 05, 2013 05:00:00 PMType of MeetingExtraordinary Meeting
Net Profit/Loss115,043,000.00Cash Dividend
Bonus Share
Announcements/Resolutions

Approval of the Board of Directors proposal to amend the first and second paragraph of Article 21 of the Articles of Association

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueThe Westin Hotel - Dubai
1 File(s)
Meeting Date/TimeApr 28, 2013 05:00:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss115,043,000.00Cash Dividend0%
Bonus Share0%
Announcements/Resolutions

The ratification of the report of the Governing Council on the activities of the company and its financial position for the financial year ended 31/12/2012
The ratification of the auditors' report for the financial year ended 31/12/2012
The ratification of the company's balance sheet and profit and loss account for the financial year ended 31/12/2012
Discharge of the members of the Board of Directors and auditors from liability for the financial year ended 31/12/2012
Appointment of auditors for the fiscal year 2013 and determine their
fees

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueThe Westin Hotel - Dubai
1 File(s)
Meeting Date/TimeOct 22, 2012 05:00:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss208,298,000 Cash Dividend0%
Bonus Share0%
Announcements/Resolutions

1.       Not to elect any candidate for the Board of Directors because on one elected himself.

 

2.       Amend the text of the first and second paragraph of Article (21) of the company Articles of Association from  11 member to 9 members which defeats the purpose of electing new members and in addition to be either UAE or GCC Nationals.

 

3.       Call for EGM as soon as possible; for the adoption of the above amendments.

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueEmirates Towers Hotel
1 File(s)
Meeting Date/TimeMay 03, 2012 05:00:00 PMType of MeetingExtraordinary Meeting
Net Profit/Loss208,298,000 AEDCash DividendN/A
Bonus ShareN/A
Announcements/ResolutionsApproved to amend the first paragraph Article 21 of the Company by increasing the Number of members of the Board of Directors from 9 to 11 members
Last Date For Dividend EntitlementN/AEx-Dividend DateN/A
Register Closing (Settlement) DateN/ATrading Suspension DateN/A
Trading Resuming DateN/ADividends Payment Date
Payment EntityMeeting VenueJumeirah Beach Hotel
1 File(s)
Meeting Date/TimeApr 26, 2012 05:00:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss208,298,000 AEDCash Dividend3%
Bonus Share5%
Announcements/ResolutionsBeen heard and approved the Board of Directors report on the activity of the company and its financial position for the year ended 31/12/2011. Been heard and the ratification of the audit report for the financial year ended 31/12/2011. Was the ratification of the Company's balance sheet and profit and loss account for the financial year ended 31/12/2011. Been approved for Directors' fees for the year 2011 by the shareholders. Was approved by the shareholders on the distribution of cash dividend of 3% and bonus shares worth 5% for the fiscal year ended December 31, 2011 to shareholders. Was re-elected board members for three years, until year 2015. Reviewed by shareholders and the approval of the re-appointment of Auditors for the year 2012 are M / s Water House Cooper, according to the three-year agreement signed in 2011. Ratified the decisions of the Board of Directors from November 2011 until date of the invitation to the annual general meeting.
Last Date For Dividend Entitlement02/5/2012Ex-Dividend Date03/05/2012
Register Closing (Settlement) Date06/05/2012Trading Suspension DateN/A
Trading Resuming DateN/ADividends Payment Date
Payment EntityMeeting VenueJumeirah Beach Hotel
1 File(s)
Meeting Date/TimeApr 14, 2011 05:00:00 PMType of MeetingAnnual General Meeting
Net Profit/LossAED 161,506,000Cash Dividend
Bonus Share
Announcements/Resolutions- Approved the report of the BOD & the auditor’s report for the year ended 31/12/2010 - Approved balance sheet and the Income Statement of the company for the year ended 31/12/2010- Approved not to distribute dividends - Absolved the members of the Board of Directors and auditors from responsibilities for the year ended 31/12/2010 – Approved to appoint auditors for the Financial Year 2011 and approved their fees - Approved the Election of Board of Director
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueEmirates Towers
Top ShareholdersLast Refreshed at: 23 November 2017

Individual Investors

ShareholdersPercentage
مصرف عجمان ش م ع 32.59%
TABARAK INVESTMENT L L C 5.54%

  • 2 EN
    2

    Article of Association - 0001

Foreign Investments View all
National GCC Arab Other Nationalities
Country of Origin Actual Permitted Actual Permitted Actual Permitted Actual Permitted As of Date:
United Arab Emirates 83.92% 100% 3.25% 100% 6.3% 49% 6.53% 49% 23-11-2017
Showing Last 10 Corporate Governance Reports - DSI View all
  • 27-04-2017

    DSI - CGR 2016

  • 31-12-2015

    Corporate Governance Report - DSI 2015

  • 01-01-2011

    Corporate Governance Report DSI 2011

Showing Corporate Actions - DSI View all
Year2017Corporate Action TypeCapital reduction
Last Date For Action Entitlement10/1/2017Ex-Dividend Date10/2/2017
Register Closing (Settlement) Date10/3/2017Trading Suspension Date1/1/1900
Trading Resuming Date1/1/1900Run (Effective) Date1/1/1900
Corporate Action DetailsCapital reduction as agreed at GA held on 04/09/2017 for 75%
Year2017Corporate Action TypeCapital increase
Last Date For Action Entitlement1/1/1900Ex-Dividend Date1/1/1900
Register Closing (Settlement) Date1/1/1900Trading Suspension Date1/1/1900
Trading Resuming Date1/1/1900Run (Effective) Date1/1/1900
Corporate Action DetailsCapital increase as agreed at GA held on 04/09/2017 of 500 million
Year2012Corporate Action TypeCash Dividends Distribution
Last Date For Action Entitlement5/2/2012Ex-Dividend Date5/3/2012
Register Closing (Settlement) Date5/6/2012Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) DateNot Available
Corporate Action DetailsDistribute 3 % cash dividends as agreed at the AGM held on 26/04/2012
Year2012Corporate Action TypeBonus Shares
Last Date For Action Entitlement5/2/2012Ex-Dividend Date5/3/2012
Register Closing (Settlement) Date5/6/2012Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) DateNot Available
Corporate Action DetailsIssue bonus shares of 5% as agreed at the Annual General Meeting held on 26/04/2012.
Year2010Corporate Action TypeCash Dividends Distribution
Last Date For Action Entitlement4/21/2010Ex-Dividend Date4/22/2010
Register Closing (Settlement) Date4/25/2010Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) DateNot Available
Corporate Action DetailsDistribute 7% cash dividends as agreed at the AGM held on 15/04/2010.
Disclaimer
  • Ownership percentage is subject to change based on several reasons including the following:
    1. Trading activity.
    2. Off-Market Transactions such as family and inheritance transfers.
    3. Changes in the nationality status of investors.
    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.
    5. Capital increase by issuing new shares to a strategic investor.
    6. Converting Bonds into shares.
    7. Equity added to the equity of the associated group.
    8. Direct Deals.

 

Percentages are updated daily after 4 pm
Disclaimer
The above published Ownership Percentages:
  • Are updated daily at the end of every trading day based on date of trade and not settlement date.

  • The ownership percentages are rounded off to 2 decimal places

  • Ownership percentages are subject to change due to the following:

    1. Trading activities.

    2. Off-Market Transactions such as family and inheritance transfers.

    3. Changes in the nationality status of investors.

    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.

    5. Capital increases, by issuing new shares to Strategic investor

    6. Converting bonds or Sukuk into shares.

    7. Changes of associated group’s ownership.

    8. Direct Deals. (The ownership percentage is changed immediately after the execution of the deal).

    9. Failed trade settlement.


DISCLAIMER

The information provided in this document is only available in Arabic due to the (Dubai court attestations only being in Arabic herein after referred thereto as (“Information”) is provided by way of general information and comment only. While reasonable care has been taken in producing this Information, changes in circumstances may occur at any time and may impact on the accuracy of the Information. The Information does not constitute professional advice or provision of any kind of services and should not be relied upon as such.  Dubai Financial Market (“DFM”) and/or its affiliates, officers or employees,  does not give any warranty or representation as to the accuracy, reliability, timeliness or completeness of the Information now or in the future. DFM shall not be liable for any loss suffered, directly or indirectly by any person acting in reliance upon the Information contained herein. 


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