DSI extends capital restructuring programme by a month

Dubai: Drake and Scull said on Sunday it has deffered its capital restructuring programme by a month, and now expects to complete it by the end of third quarter of 2017.

In an emailed statement, DSI said Tabarak Investment has acquired the majority shares of former chief executive officer, Khaldoun Tabari. The restructuring programme was approved by the annual general assembly meeting held on May 4.

“Our immediate priority is to plug-in our working capital deficit; improve collection to shore-up liquidity,” said Feras Kalthoun, DSI’s acting CFO.