Media ININ Economy We Trust
Media IN Abu Dhabi 11th-07-2019
Dana Gas, a leading gas company based in Sharjah, has repurchased 1.979 million shares as part of the buy-back programme previously approved by the UAE’s Securities and Commodities Authority (SCA) on 20 May 2019.
The price of purchase transactions stood at AED 0.94797 per share, the company said in a statement to the Abu Dhabi Securities Exchange (ADX). The repurchased shares accounted for 0.0283% of the total subscribed shares, Dana Gas added.
Moreover, the transactions have been implemented through the Abu Dhabi-based brokerage Menacorp Financial Services, according to the statement. The remaining unpurchased shares as per the SCA’s approval amount to 694.853 million shares, the company revealed.
Dana Gas, listed on the Abu Dhabi Securities Exchange (ADX), previously posted a 150% year-on-year jump in its profits for the first quarter of 2019, recording $35 million, compared to $14 million.
