By: Ramy Sameeh

Abu Dhabi – Mubasher: Dubai-listed Arabtec Holding’s ordinary general meeting (OGM) and extraordinary general meeting (EGM), which were slated for Thursday, have been postponed to 30 April due to an incomplete quorum.

Shareholders in the OGM are set to discuss a 5% dividend distribution in the form of bonus shares (around 219.765 million shares) for 2014.

Last month, Arabtec reported a net profit drop of 48.4% for fiscal year 2014, down to AED 241.6 million compared to AED 468.26 million in 2013.

Meanwhile, the EGM is to examine suggested amendments to some items in the company’s articles of association related to paying profits and applying governance regulations, in addition to voting and board meetings and their decisions.

Translated by: Nada Adel Sobhi