Dubai, United Arab Emirates: Marka PJSC (DFM: MARKA) held a General Assembly in the presence of its shareholders to discuss and vote on its proposed resoltions, most notably the decrease of its capital to extinguish AED 450 million of accumulated losses. The panel comprised Chairman Mr Khalid bin Kalban, Vice Chairman HE Jamal Al Hai, and Board Members HE Khaled Mohammed Alkamda, Mr Mohammed Saif Al Ketbi, and Mr Abdulla Hamad Al Awani,

All the resolutions voted upon were passed as follows:

  • The discussion of the report submitted by the independent expert appointed based on the request of the shareholders. (81.22% approval rate)
  • Discharging HE Jamal Al Hai and Mr Khaled Almheiri for the financial year that ended on 31 December 2017. ( 77% approval rate)
  • Discharging the auditor Pricewaterhouse Coopers (PWC) from liability for the financial year that ended on 31 December 2017. (76.44% approval rate)
  • Approve the continuity of the company’s operations according to article (302) of the UAE Federal Law No (2) of 2015 concerning Commercial Companies (‘Companies Law’). ( 77% approval rate)
  • The reduction of the company’s share capital from AED 500 million to AED 49.87 million. (78.51% approval rating)
  • Authorise the company’s Board of Directors and any person uthorised by them to undertake all necessary procedures and steps to allow the company to complete capital reduction and capital increase. (78.51% approval rating)

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About Marka

Marka Holding, listed in the Dubai Financial Market since 2014 is focused on building a diverse portfolio of homegrown concepts, ranging from casual eateries to fine dining establishments. Complimenting these homegrown concepts, international F&B brands have sought out the expertise of Marka Holding when seeking to establish a footprint in the region’s growing F&B landscape. A combination of decades of experience in the financial, business development, marketing real estate and hospitality industries, ensures that each concept has the foundation it needs to guarantee success with our overarching goal be a leading company in the Middle East’s mid-to-high range F&B sector.

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