Arabtec’s annual general meeting was on Thursday postponed after it failed to achieve quorum.
Shareholders of the UAE’s largest listed construction company had been due to elect a new board of directors from of a slate of 16 nominees.
Khadem Al Qubaisi, Arabtec’s chairman, and Riad Kamal, the company’s founder, have both left the builder’s board.
Mr Kamal is said to have left the board 18 months ago – despite being listed as part of the company’s board on the Dubai Financial Market.
Yousef Omair bin Yousef, a former chief executive of Adnoc and a former Arabtec board member, is also not standing for the company’s board.
On Wednesday, a presidential decree announced a reshuffle at International Petroleum Investement Corporation (Ipic), the Abu Dhabi government-backed fund that owns Arabtec.
Mr Al Qubaisi left his role as Ipic managing director and was replaced by Suhail Al Mazrouei, the UAE’s energy minister.
Arabtec on Wednesday confirmed that it is in talks with banks in an attempt to finance a US$40 billion project to build 1 million homes in Egypt.
Its shares closed 3.7 per cent lower at Dh2.84 yesterday on the DFM.
abouyamourn@thenational.ae
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MATCH INFO
Euro 2020 qualifier
Russia v Scotland, Thursday, 10.45pm (UAE)
TV: Match on BeIN Sports
Omar Yabroudi's factfile
Born: October 20, 1989, Sharjah
Education: Bachelor of Science and Football, Liverpool John Moores University
2010: Accrington Stanley FC, internship
2010-2012: Crystal Palace, performance analyst with U-18 academy
2012-2015: Barnet FC, first-team performance analyst/head of recruitment
2015-2017: Nottingham Forest, head of recruitment
2018-present: Crystal Palace, player recruitment manager
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
SAUDI RESULTS
Team Team Pederson (-40), Team Kyriacou (-39), Team De Roey (-39), Team Mehmet (-37), Team Pace (-36), Team Dimmock (-33)
Individual E. Pederson (-14), S. Kyriacou (-12), A van Dam (-12), L. Galmes (-12), C. Hull (-9), E. Givens (-8),
G. Hall (-8), Ursula Wikstrom (-7), Johanna Gustavsson (-7)
