DSI shareholders propose increasing capital by Dh500m

Dubai

Shareholders of Drake and Scull International (DSI) submitted a request to increase the company’s capital by Dh500 million by issuing new shares with a minimum value of Dh1.25 per share.

During the company’s annual general assembly, a number of shareholders holding over 10 per cent of DSI’s capital submitted a request to issue new shares or that the company issue convertible bonds with a value below Dh1 billion.

The chairman informed shareholders that the matter requires prior approval from the Securities and Commodities Authority, but referred the matter to the board.