du board nods to capital reduction

Dubai – Mubasher: du said its board approved on Wednesday, 11 January, to cut the capital, according to a bourse statement. 

The capital will be reduced through the cancellation of 38.52 million shares which were allocated to the company’s long-term incentive plan.

As a result, the company’s share capital will decline from 4.57 billion shares to 4.53 billion shares.

The board deferred the amendment to the company’s articles of association until further notice.