Abu Dhabi – Mubasher: The National Investor Company announced that its shareholders will assemble for an ordinary general meeting (OGM) on 21 January 2020 to discuss the recommended capital cut through cancelling 200 million shares at a value of AED 200 million.
The company will return the value of the capital reduction to the shareholders within 90 days from the approval date, according to a bourse filing on Sunday.
The OGM will further discuss distributing exceptional profits worth AED 50 million from the optional reserve.
The new capital is expected to reach AED 377.5 million from AED 577.5 million.
In December, the company’s board suggested reducing the capital by AED 200 million.
