Abu Dhabi – Mubasher: Dana Gas’ board has elected Hamid Jafar as chairman and Rashid Al-Jarwan vice chairman for the new board.

The board also approved the terms and conditions of refinancing its present sukuk and the issuance of new sukuk, according to a bourse statement released on Wednesday.

The Abu Dhabi-based energy giant’s directors called for a general assembly meeting to consider the fresh sukuk and approve thereof.

Earlier in May, Dana Gas’ CEO Patrick Allman-Ward told Bloomberg TV that the company’s consensual deal with the sukukholders is a “good deal”.

Dana reached an agreement with the Ad-Hoc committee of sukukholders over the terms and conditions of the restructuring and refinancing plan for its $700 million Sukuk Al-Mudarabah.