Qurain postpones EGM due to insufficient quorum

May 29, 2015 12:34 PM

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Qurain postpones EGM due to insufficient quorum

Qurain Petrochemical Industries announced that it has postponed the company's extraordinary general assembly for lack of quorum.

The meeting was scheduled to be conducted today December 21, 2014 in order to discuss the company's Board of Directors previous recommendation of delisting the company's shares from KSE official market.

Earlier, the company's board attributed the delisting decision to the deteriorating conditions of Kuwaiti bourse and weakness of operating environment.

The company operates with paid -in capital of KWD29.6 million distributed across 296.4 million shares at par value of KWD100 fils per share.

Notably, Qurain's stocks advanced during today's trades by around 17.24% to KWD17 fils.

Source: english.mubasher.info

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