BRIEF: UAE's Insurance House Shareholders Approve 15 Mln Dirhams Bonds Issue

INSURANCE HOUSE IH.AD :

* SHAREHOLDERS APPROVE TIER 1 PERPETUAL BONDS NON-CONVERTIBLE INTO SHARES IN AN AMOUNT OF 15 MILLION DIRHAMS

* SAYS BONDS ISSUANCE FOR PURPOSE OF STRENGTHENING CO'S CAPITAL ADEQUACY AND TO SUPPORT ITS FINANCIAL POSITION

* SHAREHOLDERS APPROVE TO WRITE OFF 1.2 MILLION SHARES WITH VALUE OF 1 DIRHAM EACH TO DECREASE SHARE CAPITAL

Source: (https://bit.ly/2FtRSF0) Further company coverage: IH.AD

((Reuters.Briefs@thomsonreuters.com;))