Takaful Emarat – Insurance has announced receiving an approval by the Securities and Commodities Authority (SCA) to publish an invitation for its extraordinary general meeting (EGM) which is scheduled to be held on Tuesday, November 11, at 11 am in Dubai.

The EGM will approve the Takaful Emarat’s capital increase by AED 11 million through the issuance of new shares to current shareholders, the Company announced in a statement to the Dubai Financial Market (DFM), adding that the value of the new shares is equivalent to the value of the original shares.

Following the capital increase, Takaful Emarat’s capital will amount to AED 1 million.

The EGM will also delegate the Board of Directors to implement all decisions related to the capital increase. Moreover, the Company’s Articles of Association will be amended to reflect the capital increase.