Arabtec delays crunch time board meeting once more

Board was due to meet on Sunday but will now meet on Wednesday

  
Traders monitor stocks at the Dubai Stock Exchange in the Dubai World Trade Center.

Traders monitor stocks at the Dubai Stock Exchange in the Dubai World Trade Center.

REUTERS/Ahmed Jadallah

Embattled Dubai construction company Arabtec has once again delayed a board meeting to discuss plans relating to its liquidation.

The company, famous for high profile projects including helping to build Dubai’s Burj Khalifa, announced at the end of September that shareholders had voted to liquidate it.

The board had planned to meet on October 19, a date which was postponed until Sunday (October 25).

In a statement to Dubai Financial Market, the company announced that the meeting will now go ahead on Wednesday (October 28).

The board was given a two-month deadline from the end of September to meet to discuss liquidation with main stakeholders before a liquidation application is submitted to competent courts.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

(imogen.lillywhite@refinitiv.com)

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