Property News · March 7, 2016

Arabtec says ex CEO Hasan Ismaik is not joining the board of Dubai contractor



Rumours that a former chief executive of Arabtec Holding, Hasan Ismaik, will be appointed to its board are false, the Dubai-listed construction firm said on Monday.”The rumours over the appointment of Mr Hasan Ismaik as chairman or member of the board of directors of Arabtec are false and are not based on any true facts or events,” Arabtec said in a bourse filing.”Moreover, we are not anticipating any change to the board of directors of Arabtec at this stage.”
The statement comes after Ismaik raised his investment in the contractor to 11.91 per cent from 11.81 per cent.• Arabtec: A decade-long story of highs and lows on the DFM – graphicNews of the stake increase ignited frenzied speculative buying of Arabtec’s shares, which has long been one of the most volatile stocks on Dubai’s stock market.The shares gained 42 per cent last week, and rose a further 13 per cent yesterday.
This morning, however, they were down nearly 5 per cent at 10.20am, with the DFM falling just under 1 per cent.business@thenational.aeFollow The National’s Business section on Twitter

Source : thenational.ae
Read more…Arabtec says ex CEO Hasan Ismaik is not joining the board of Dubai contractor

You may also like...