Union Properties rise on bets shareholders nod to extend ADCB loan settlement
- United Arab Emirates: Wednesday, March 13 - 2013 at 13:53
The DFM General Index fell 0.87% to 1,922.04 Wednesday. Emaar declined the 2nd day straight, ending down 1.42% at Dhs5.56. Its smaller rival Union Properties (UPP) jumped 1% to hit Dhs0.409. Earlier in the day UPP invites its shareholders to the annual general meeting and the extraordinary general meeting (EGM), both to be held on April 4. At the EGM, UPP aims to get shareholders' nod an extension of an Abu Dhabi Commercial Bank loan repayment for five years from Aug. 20 2012 to Aug. 20 2017, where the initial approval was obtained by the bank. Shares of investment bank Shuaa Capital soared 2.46% to hit Dhs0.584.
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