One United Properties (BVB: ONE), the leading green developer of residential, mixed-use and office properties in Romania, has convened the General Meeting of Shareholders (GMS) on April 26and2022.
On the agenda of the GMS are, among other things, the approval of the payment of the second installment of the dividends, the capital increase with contributions in cash, the buyback of shares as well as the election of new members of the Board. administration.
“One United Properties thrived last year thanks to the boost we received from our IPO. The exceptional performance of our team is a confirmation for all our stakeholders that we are determined to maintain our leading position in the market for high-end residential and mixed-use developments and to continue to deliver consistent returns to our shareholders. Despite the continuous investments in our development, we continue to maintain an excellent cash position and therefore, in accordance with our dividend policy, the Board of Directors proposes to the Annual General Meeting of Shareholders a distribution of the second tranche of the dividend. 2021, amounting to 8.6 million euros, said Victor Capitanu, co-CEO of One United Properties.
For 2021, One United Properties proposes to pay a total gross dividend of €15.2 million. The first tranche of gross dividends of €6.6 million was approved in the GMS in September 2021 and paid in October 2021. The board of directors proposed to shareholders the approval of the second tranche in the amount of 8.6 million euros. If approved in the annual GMS, the gross dividend of 0.0033 euro (0.0165 lei) per share will be paid on May 30and2022. One United Properties’ dividend policy includes the payment of dividends on a semi-annual basis.
The proposal for the election of the Board of Directors is as follows. The terms of the current seven board members expire on April 26.and, 2022. Council members will be elected for a one-year term, in accordance with international standards. The candidates proposed by the Nomination and Remuneration Committee of the Company are Claudio Cisullo (current Chairman of the Board of Directors), Victor Capitanu, Andrei-Liviu Diaconescu, Dragos Manda, Marius Diaconu, who are all currently part of the Board of Directors. Administration of One United Properties, as well as two new proposed board members: Augusta Dragic and Magdalena Soucek.
Augusta Dragic co-founded the Superbet Group in 2008 with Sacha Dragic. Since opening its first store more than ten years ago, the group has become the undisputed leader in the Romanian market, expanding internationally and including several brands across Europe. In 2019, Superbet secured a €175 million minority investment from Blackstone, a US-based global investment group, to accelerate its growth.
Magdalena Soucek was Country Managing Partner of EY in the Czech Republic from 2008 to December 2021. From 2011 to 2020, she was also Managing Partner of EY’s Central Cluster, which includes Czech Republic, Slovakia, Hungary, Slovenia, Serbia, Croatia, Bosnia, Herzegovina and Montenegro. Under his leadership, the Cluster nearly doubled in size to become a $220 million enterprise, with 80 partners and 2,500 people. She has over 30 years of experience in providing audit and advisory services to companies. During her practice, she specialized in audit and other projects for clients mainly from the pharmaceutical, manufacturing and real estate sectors for leading multinational and Czech companies.
During the AGM, the shareholders will also decide on a capital increase operation by contributions in cash. One United Properties intends to raise up to 100 million euros in equity from investors as part of a capital increase operation by issuing 330,017,986 new shares. The planned capital increase would be the fifth for the company, which in July 2021 listed on the main market of the Bucharest Stock Exchange after successfully raising 52.8 million euros in an initial public offering. stock Exchange.
The capital raised will fuel One United Properties’ growth strategy, enabling the company to capture additional market opportunities. The new equity will be invested in new developments on a priority basis, according to the company’s strong existing pipeline, while current cash will be used to accelerate the delivery of ongoing developments. The company’s goal is to invest primarily in Bucharest, where most of the pipeline is located.
Other items to be voted on in the GMS include the proposal by the Board of Directors to approve the share buyback for cash purposes with a total limit of 2 million euros, at a maximum acquisition price of 0 .35 euro (1.75 lei) per share.
One United Properties shareholders will be able to vote in the GMS in person and online, using the eVote solution, which will stream regular and special meetings in real time.