Dana Gas reveals updates on issue with sukuk holders

Dana Gas reveals updates on issue with sukuk holders
The company’s preparations continue to resolve the company’s dispute with the Ad-Hoc Committee of sukukholders by litigation.
Dana Gas DANA -5.13% 0.74 -0.04

Abu Dhabi – Mubasher: Dana Gas’ board approved its compliance with the English Court’s order of submitting an application to the Sharjah Federal Court in order to discharge the Sharjah injunction, according to a bourse statement.

This follows the English High Court’s order to continue the English Court’s injunction restraining the sukuk holders delegate.

The company’s preparations continue to resolve the company’s dispute with the Ad-Hoc Committee of sukuk holders by litigation.

The board also approved financials for the second quarter of 2017, and expressed satisfaction with the improvement in Dana’s financial position, receivables, and collection in Egypt and Iraq’s Kurdistan Region.

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Source: Mubasher

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