Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of the National Investor Company has approved a capital cut of 34.6% or AED 200 million, which will be refunded to the shareholders.
After the decrease, the new capital will reach AED 377.5 million from AED 577.5 million, according to the statement to the Abu Dhabi Securities Exchange (ADX) on Wednesday.
The OGM also approved a special dividend distribution of AED 50 million from the statutory reserve to the shareholders.
It is noteworthy to mention that the company’s original capital of AED 577.5 million is distributed over 577.5 million shares.
Source: Mubasher
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