Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Eshraq Investments, listed on the Abu Dhabi Securities Exchange (ADX), approved the cross-listing of the company’s shares on the Saudi Stock Exchange (Tadawul) during its meeting on Sunday 5 January.
The general assembly delegated the board of directors to follow-up and implement all the listing procedures, including the timing, conditions, and offered stake, according to a bourse filing on Monday.
This mandate shall be effective for a period of three years starting from the date of the meeting.
On the other hand, the OGM did not approve the board's recommendation to decrease the capital by 42% to offset accumulated losses.
It is worth pinpointing that over the third quarter (Q3) of 2019, the company saw profits of AED 3.5 million, a 74% decrease compared with AED 13.5 million in Q3-18.
