• HSBC

Drake and Scull International buys back 8.6 million shares

  • United Arab Emirates: Monday, June 29 - 2009 at 10:47
  • PRESS RELEASE

Drake and Scull International PJSC (DSI) has bought back 8.6 million shares, following ESCA's approval granted earlier this month allowing the company to buy back up to 10% of its shares.

DSI CEO Khaldoun Tabari described the buyback as a significant investment in the company's own growth and as an important enhancement to shareholder value.

Tabari added:
"We firmly believe that there is no better investment we can make than in our own future. The board of directors has approved a strategy for DSI that will see the company expand both vertically and horizontally. The company's expertise and experience have helped it to secure contracts for a number of mega-projects so far this year, both within the UAE and the region and our overall feelings for the remainder of the year remain to be positive."


DSI is a leading UAE-based end-to-end service provider of MEP contracting, IWP and civil contracting services. On March 16 2009, DSI became the first specialist contracting company to list on the Dubai Financial Market (DFM).
Mr. Khaldoun Tabari, CEO and Vice President of Drake & Scull International PJSC.
Mr. Khaldoun Tabari, CEO and Vice President of Drake & Scull International PJSC.
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Notes and Media Contacts »

About Drake & Scull International PJSC:

Drake & Scull International is an integrated end-to-end service provider in the field of electrical and mechanical engineering and has provided innovative solutions to customers since its inception in the UAE in 1966. Our expertise in mechanical, electrical and plumbing (MEP) contracting spans from providing complete solutions through Design and Build to Engineering, Procurement and Construction (EPC), and civil contracting services across the Emirates as well as Infrastructure, Water & Power solutions and across the Middle East and North Africa.

For further information, please contact:

Dalal Demashkieh
Accounts Executive
Cicero & Bernay Public Relations
Phone: +971 4 334 2966
Fax: +971 4 334 2977
P.O. Box 34533, Dubai, UAE

Mariana Missakian
Corporate Communications Manager
Drake & Scull International PJSC
Phone: +971 4 8112300

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