Arabtec board to meet on March 12

Dubai: Arabtec Holding, the Dubai-listed construction firm, will hold a meeting of its board of directors on March 12 to discuss convening the annual general assembly of shareholders.

The assembly has a tentative date of April 18, but that is yet to be approved by the market regulator and the Dubai Financial Market. The assembly will request shareholder approval on a recapitalisation programme, which includes a Dh1.5 billion rights issue and a capital reduction plan.

Arabtec share prices ended 1.42 per cent higher on Wednesday.