Damas complete restructuring

Damas complete restructuring

 

Announced Damas International, the end of the process of restructuring the dues of thelenders, and the signing of the Framework Agreement, as said by day 12 of this month.Annan said Fakhruddin, the company's chief executive, said that the final financial position of the company is safe. A statement from Damas to NASDAQ Dubai, yesterday, said that one of the conditions necessary before the completion of the restructuring process successfully,and a landmark in the history of the company, is the completion of the framework agreementthat will allow the company to restore the funds owed ​​to them from a company the brothersAbdullah. The statement said, he also announced the company before it was signed the Framework Agreement on 11 this month, with the various parties concerned, and include a number of lenders to set the brothers Abdullah and a number of other companies .