Dubai – Mubasher: Emirates NBD, listed on the Dubai Financial Market (DFM), announced that it has calculated the number of rights to its shares issued capital through dividing current share capital on the number of new shares to be issued amounting nearly 758.823 million shares.
Accordingly, the shareholder will get 1 right for every 7.3242 shares owned by the shareholder and held on the eligibility date on 31 October 2019, the bank said in a statement to the DFM on Monday.
“As per the applicable laws in the UAE, and thus, in the invitation to shareholders to subscribe for the new shares, the number of shares required to receive one right was rounded to 8 shares,” Emirates NBD highlighted.
The bank also stressed that rights to the shareholders will be allocated on 31 October 2019 on the basis of a distribution ratio of 1 right to every 7.3242 shares.
The total allocated rights to each shareholder will be rounded down to the lower whole number as the bank is not able to allocate a fraction of a right, the bank said.
On 17 October, Emirates NBD Bank said that its board of directors approved by circulation to raise the bank’s issued shares capital by AED 758.823 million through the rights issue of nearly 758.823 million shares, bringing the total issued share capital will be AED 6.316 billion.
