Shareholders are also expected to approve the appointment of a permanent invitee to the Board of Directors meetings, in the person of Daniel Dines or a suitable representative of Daniel Dines, accepted by the executive members of the Board of Directors, per the company’s summoning note.
The proposition comes in the context in which One United announced in early June that an investment company controlled by Daniel Dines, the founder and CEO of UiPath, had acquired 5% of the shares of One United Properties.
Shareholders are also expected to approve the company’s share capital increase by RON229 million by issuing up to 1,144,062,353 new ordinary, nominative and dematerialised shares with a nominal value of RON0.20 per share.
The new shares will be allotted to the company’s shareholders on a pro rata basis with their current shareholdings in the company’s share capital. Within the share capital Increase, for each 5 shares already held in the company’s share capital, four new shares will be allotted.
“In case the number of shares to which a shareholder may be entitled in the Share Capital Increase is not a natural number, the number of shares that will be actually allotted to such shareholder will be rounded down to the next lower natural number”, according to company representatives.
Following the share capital increase, the company’s share capital will amount up to RON515 million (of which RON505.5 million and EUR1.92 million), fully subscribed and paid by the shareholders, divided into a number of up to 2,574,140,294 registered dematerialized shares, with a nominal value of RON0.2 per share.
Shareholders are also expected to approve the introduction of a new Class B shares aimed at conferring the company’s founders, Victor Capitanu and Andrei Diaconescu, a voting power five times greater than a regular share.
Per the summoning note, 11.37% of the share capital of One United held by Victor Capitanu will be converted into Class B shares. The same thing and the same percentage of the share capital goes for Andrei Diaconescu as well.
The shares of One United Properties started trading on the Bucharest Stock Exchange on July 12, 2021. The stock market listing came after the closure of an initial public offering (IPO) for the sale of shares to increase the company’s share capital, whereby the real estate developer raised RON260 million.
Thus, One United has become the third largest Romanian entrepreneurial company listed on the Bucharest Stock Exchange to rank among the top ten companies listed by the stock market capitalization.
One United Properties was founded by Victor Capitanu and Andrei Diaconescu, who currently hold 59% of the company’s shares and are the only executive members of the Board of Directors. The remaining five Board members are non-executive.