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27-11-2017 Drake and Scull International shares included in MSCI GCC Index

Move reflects high confidence among regional & global investors and boosts ongoing reorganizational efforts


UAE, November 27, 2017 - Drake & Scull International PJSC (DSI), a regional market leader in engineering and construction services, has announced that its shares have been included in the MSCI GCC Index. The move demonstrates the growing regional and international confidence in DSI’s turnaround plan, which is expected to help bolster investor interest in the company.

DSI’s inclusion in the MSCI GCC Index comes just a month after the company’s successful completion of a comprehensive Recapitalization Program designed to improve the financial and operational performance of the Group. It also follows a series of strategic appointments and changes within DSI geared towards further streamlining the business. The new management views MSCI’s decision as a very positive and timely development amidst the company’s ongoing efforts to reorient itself for recovery and growth.

Rabih Abou Diwan, Investor Relations Director of Drake & Scull International PJSC, said: “DSI’s inclusion in the MSCI GCC Index affirms the unwavering confidence from regional and international investors and our unique market positioning. It proves that our ongoing reorganizational efforts are on track and leading us to new and exciting opportunities and a more sustainable future. The inclusion further emphasizes our successful efforts to increase transparency, enhance corporate governance, and improve our investor outreach program.”