Dubai: Gulf General Investment Company (GGIC) has received the approval of competent authorities to reduce its capital on 15 July.
The Emirati company will reduce its capital to AED 586.75 million from AED 1.79 billion, according to a bourse statement.
In April, the Dubai-listed company’s board ordinary general meeting (OGM) approved a resolution in favour of the continuation of the firm's business and the reduction of its capital.
GGIC posts a 10% increase in its losses during the first quarter of 2018.
Source: Mubasher
All Rights Reserved - Mubasher Info © 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
