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GulfNav Gives Nod to USD 250 Mn Sukuk Issue

gulfnav-320x207.jpgThe decision was taken by the board after consideration of the company’s financial position and projects financing opportunities.

As disclosed, the timetable will be determined based on the strategic expansion projects. However, the priority will be given to the increase in capital in order to provide the company’s shareholders with the opportunity to increase their participation in the capital of the shipping company, Gulfnav said.

A number of the company’s shareholders have expressed interest in growing their stake in GNH’s capital, which was the reason behind the board’s decision to allow the issuance of shares.

In line with the decision, the company plans to increase the capital with AED 448.3 million (USD 122 million) reaching a total of AED 1 billion distributed over 1 billion shares. The par value of each share is AED 1 without premium.

The rights issue is subject to obtaining approvals from relevant authorities.

3.jpgOUCO Marine/Offshore 3T40M Telescopic boom crane is mainly used on the deck of bulk carrier or overload barge for handling a variety of cargo bulks.

It has several hoisting points to fit the demand of vessel usage, which are 3T40M, 40T6.5M, 10T25M, makes the crane with long outreach to complete the lifting job.

The cranes are available from 3–40 meters of crane boom, which have long range of usage. This 3t40m telescopic crane currently have been made several sets with ABS Class certificate, will be delivered within 3 months with stable and reliable quality based on clients’ usage and testings.