Published: Jun 09, 2014
Source: Emirates 24|7


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Mubadala to convert Dh134m of Tabreed bonds into shares

National Central Cooling Company (Tabreed) has said in a media statement that it has been notified by its bondholder, Mubadala Development Company (Mubadala), of its intention to exercise its right to convert approximately Dh134 million in mandatory convertible bonds (MCB) into shares.

The conversion of the MCB, whose issuance was approved by Tabreed’s shareholders at the annual general assembly on April 16, 2013, will result in 79.4 million new shares being issued to Mubadala and will increase Tabreed’s issued shares to approximately 738.5 million, it noted. Read more >>>

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