Dubai – Mubasher: United Kaipara Dairies Co. announced in a filing to the Dubai Financial Market (DFM), that its extraordinary general meeting (EGM) will convene on Wednesday, 25 March after trading hours.

The EGM’s agenda includes discussing a stock split from AED 100 to AED 1 added to amending the company’s name to Unikai Foods.

The EGM will also tackle the continuity of the company or liquidating as well as amending ownership stakes so that UAE citizens hold 51%, while Gulf and foreign investors will hold 29% and 20%, respectively.

Financials for FY14 showed deepening net losses by 91.6% to AED 66 million against AED 34.5 million in losses in 2013.

United Kaipara’s capital amounts to AED 30.25 million divided on 302,500 shares at par value AED 100 per share.