DSI applied for buyback on May 9, 2009 and approval from the ESCA was granted on May 31 for a total buyback of 217,000,000 shares - 10% of the company's total shares available.
Buyback commenced on June 24; as of today, DSI has bought back 22,400,000 shares which will continue three days following the announcement of its Q2 financial results which will be issued on 30 July 2009.
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DSI temporarily halt share buyback in line with ESCA regulations
- United Arab Emirates: Wednesday, July 15 - 2009 at 14:40
- PRESS RELEASE
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Drake & Scull International PJSC has temporarily halted its share buyback activities as of July 15, 2009, in line with Emirates Securities and Commodities Authority regulations which stipulate that no listed company may buy back shares two weeks prior and three days following announcing of financial results.
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Posted by Rima Ali Al MashniWednesday, July 15 - 2009 at 14:40 UAE local time (GMT+4)
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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:
Cicero & Bernay Public Relations
Tariq Al Sharabi
Account Director
T: + 971 4 334 2966
F: + 971 4 334 2977
Or
Drake & Scull International PJSC
Mariana Missakian
Corporate Communications Manager
T: +971 4 8112300
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:
Cicero & Bernay Public Relations
Tariq Al Sharabi
Account Director
T: + 971 4 334 2966
F: + 971 4 334 2977
Or
Drake & Scull International PJSC
Mariana Missakian
Corporate Communications Manager
T: +971 4 8112300
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