DSI to issue convertible bonds

Abu Dhabi: Drake & Scull International (DSI) has approved increasing its share capital by issuing convertible bonds amounting to Dh10 million at an issue price of Dh1 for the employees share option plan.

The amount will be considered as compensation and bonuses for employees. DSI will also increase its share capital by issuing bonds of Dh55 million to a strategic partner where the conversion price is the market price for the shares at the date of conversion.