The company will thereafter disclose the results of the voting after obtaining the approval of the relevant government authorities and the Securities and Commodities Authority, the statement said.
Drake & Scull last month posted results for the third quarter of 2020, which showed its accumulated losses rose to almost Dh4.9 billion, and liabilities outweigh assets by about Dh3.7bn. Measures being undertaken to plug this gap include finalising its restructuring plan with creditors, closing out existing projects and attempting to win new projects in the UAE, Tunisia, Kuwait, Iraq, Algeria and Germany. It also plans to pursue legal cases against third parties and previous management .