The two-month grace period covers all types of visas, including tourist and expired residency permits
Lamprell, whose revenue almost tripled to $205 million in the two years to 2005, wants to raise as much as 300 million pounds ($560 million) to finance expansion, Peter Whitbread, the company's chief executive, told Reuters.
He said Lamprell was looking to sell between 60 per cent and 70 per cent of equity to institutional investors in a placement that opens on October 11.
"Saudi Arabia and Qatar are developing gigantic projects that are attracting rigs from all the over world," Whitbread said. Lamprell plans to use the funds to develop new facilities at Hamriyah Port in Sharjah emirate, more than doubling capacity compared with its existing Port Khalid site, Whitbread said.
Record oil prices, spurred by faster-than-expected demand growth, are encouraging Gulf Arab and other producers to expand output and search for new crude deposits. That is boosting demand for rigs and business for oil services companies. A Lamprell statement earlier confirmed a Reuters report about the planned sale from a source close to the company.
The two-month grace period covers all types of visas, including tourist and expired residency permits
Sheikh Mohamed extended his sympathies during a visit to the mourning majlis in Al Ain
According to an official, several people are still feared trapped in the debris
Amateurs Afzaal Ahmad, Parvez Ahmed, and Arbaaz Ahmad shine with an Impressive 89-point performance at the Emirates Golf Club
The Meteorological Organisation that it is closely monitoring what is being circulated on social media
There have been a series of school fires in the country in recent years, many of them which have turned out to be arson
Salama Alfalacy is into realistic art featuring landscapes and wildlife, while Meera Jamal Al Midfa is setting new grounds in performance art and filmmaking
Dubai Police have asked drivers to be extra cautious