Dubai – Mubasher: Drake and Scull International (DSI) on Wednesday announced the appointment of two new board members, Fahem Alshehhi and Salem Alshamsi, replacing Obeid bin Touq and Khamis Buamim who resigned in May.

Moreover, shareholders at the general assembly meeting have voted to raise the board members to nine from seven, the UAE-based developer added in a statement.

The company has cleared up its ongoing legal proceedings against the previous executive management and its cooperation under the current investigation performed by the Audit Committee formed by Emirates Securities and Commodities Authority (ESCA) upon a request from shareholders.

Furthermore, the company noted it has submitted files related to questionable projects for the period starting 2009 to 2016 and they are currently being reviewed, according to the statement.

DSI will carry on providing additional related files to the business as per the Audit Committee’s requirement.

The regional provider of engineering and construction services unveiled that the 15 legal complaints filed for offences during the period of 2009 to 2017 by the previous management members are still under review.

As for the status of DSI’ restructuring plan, the company has informed its shareholders that it began dealing with the bank committee and its consultants to find solutions that could bolster the firm.

These solutions include the closure of some of DSI’s branches and units, negotiating with banks over cutting debts, according to the statement.

The company seeks these negotiations with the aims to maintain its business and protect the rights of its shareholders.