Dubai Investments AGM approves proposal for 30 per cent bonus shares on share capital of AED 858 million
Dubai Investments has announced the results of the 10th Annual General Meeting in favour of its proposal to distribute bonus shares to shareholders at 30 per cent on the basis of share capital on December 31, 2005, which stood at AED 858 million. The 30 per cent bonus shares will work out to 15 per cent on the basis of the share capital after the Rights Issue which amounts to AED 1.716 billion.
The board has fixed May 1, 2006 as the last date of entitlement of bonus shares. The bonus shares will be credited to the account of shareholders with Dubai Financial Market (DFM) within one week after register closing on May 3, 2006.
The Extraordinary General Meeting (EGM), which was not convened on Tuesday, April 25 due to lack of legal quorum, will now be reconvened on May 29, 2006. The agenda will include amendment of Article (6) of the Memorandum & Articles of Associations to increase the share capital by virtue of issue of bonus shares.
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