Tabarak Investment Injects AED 500 Million in Drake & Scull International as part of the Capital Increase

Drake & Scull International PJSC (DSI), a regional market leader in engineering and construction solutions, revealed today that it has actually effectively finished its resources restructuring program which started at the start of the as part of its initiatives to enhance the monetary setting of the company and enhance operational effectiveness.

The conclusion of the program and the access of Tabarak Financial investment as a Strategic Investor will certainly allow the company's new leadership to move on with its operational strategies and focus on more enhancing its core proficiencies in the mechanical, electrical and pipes (MEP) sector to guide the company to recovery and lasting development.

Engineer Abdulla Atatreh, Chairman of Drake & Scull International PJSC, stated: "Completing DSI's recapitalization program is a substantial milestone for the company and declares the commitment and the dedication of the brand-new of board of supervisors in taking the required choices that guard the interest of our shareholders and establishes a solid structure for the group to push in advance with key strategic campaigns to regain business energy."

" We are certain that this success will certainly lead the way for the company's newly-appointed leadership to map a more clear direction and setting DSI to proactively take regional chances in the MEP market," he included.

" The completion of the program is a fundamental phase in rebalancing our capital structure and enhancing our liquidity and the brand-new resources shot will certainly be made use of to boost procedures and increase tasks implementation, along with safeguarding brand-new project awards and seeking chances to expand our income and reinforce shareholders self-confidence."

"The Stocks and Commodities Authority and the Dubai Financial Market played a key function in supporting the execution of the resources restructuring program while displaying the greatest criteria of professionalism and reliability. In addition, Tabarak Financial investment will remain to support the company financially and tactically. Lastly, with the effective completion of the capital restructuring program, the share funding of the company stands at AED 1.07 billion and the overall equity of the group boosted by AED 500 million." Atatreh ended.