News Column

DSI to issue convertible bonds

July 14, 2014

Staff report

Abu Dhabi - Drake & Scull International (DSI) has approved increasing its share capital by issuing convertible bonds amounting to Dh10 million at an issue price of Dh1 for the Employees share option plan.

The company will not collect the amount of the shares, and they will be considered as compensation and bonuses for the employees.

DSI will also increase its share capital by issuing bonds amounting to Dh55 million to enter strategic partner where the conversion price is the market price for the shares at the date of conversion.

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Source: Gulf News (United Arab Emirates)

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