ISX News
Babylon Hotel (HBAY) disclosed the details of its AGM
Babylon Hotel (HBAY) had resumed trading on Oct. 28, 2014 after the AGM. In its AGM, HBAY didn’t approve the decision to increase its IQD1.35bn capital through 170% rights issue and to cover the cumulative deficit of the years from 2005 to 2010. HBAY decided to wait until the company will receive the payments from its investment contracts to cover this deficit, then the company will be capable to increase capital through bonus issue. As a result, the capital hasn’t changed and the bank resumed trading after cancellation of capital increase decision. According to today’s ISX announcement, HBAY will be suspended from trading starting from tomorrow (Oct. 30th), if the company fails to explain why the prices have touched the lower limit in the last two trading sessions (Oct. 28th - Oct. 29th).
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