Abu Dhabi – Mubasher: Al Ramz Corporation Investment and Development on Sunday announced postponing its ordinary general meeting (OGM) to Wednesday, 12 April, according to a statement to the Abu Dhabi Securities Exchange (ADX).
The OGM was originally scheduled to be held on Wednesday, 5 April.
Shareholders will discuss the distribution of cash dividends of 5 fils per share, representing 5% of capital, for 2016. Dividends will total AED 27.5 million, according to the company’s previous statement.
The OGM also will discuss annual financial reports, bonuses to the board of directors, and the amendment of articles of association.
Al Ramz reported an annual profit of AED 58.69 million in 2016, up 21.5% from AED 48.31 million reported in 2015.
In April 2016, the annual general meeting (AGM) approved raising the company’s capital to AED 600 million in order to acquire Al Ramz Capital.
