Shareholders’ agenda also includes an increase in share capital with cash contributions, the share buyback and the election of new members of the Board of Directors.
The first tranche of gross dividends worth RON32.5 million (EUR6.6 million) was approved by shareholders in September 2021 and paid out in October 2021.
The Board of Directors proposed to shareholders the approval of the second tranche in the amount of RON42.5 million (EUR8.6 million). If approved in the annual meeting of shareholders, the gross dividend of RON0.0165 (EUR0.0033) per share will be paid out on May 30, 2022. One United Properties’ dividend policy includes the payment of dividends on a half-yearly basis.
“One United Properties thrived last year due to the boost we got from our IPO. The exceptional performance of our team is a confirmation to all our stakeholders that we are determined to maintain the leading position in the market for premium residential and mixed-use developments and keep delivering consistent returns to our shareholders. Despite the continuous investments in our development, we continue to maintain an excellent cash position and therefore, in line with our dividend policy, the Board of Directors is proposing to the annual General Meeting of Shareholders a distribution of the second tranche of the 2021 dividend, amounting to RON42.5 million (EUR8.6 million),” said Victor Capitanu, co-CEO at One United Properties.
The mandates of all seven members of the Board of Directors are set to expire on April 26, 2022. The Board members will be elected for a one-year mandate, in line with international standards. The candidates proposed by the Company’s Nomination and Remuneration Committee are Claudio Cisullo (current Chairman of the Board of Directors), Victor Capitanu, Andrei-Liviu Diaconescu, Dragos Manda, Marius Diaconu, all of whom are currently part of One United Properties Board of Directors, as well as two new Board Member proposals: Augusta Dragic and Magdalena Soucek.
Augusta Dragic co-founded the Superbet Group in 2008 with Sacha Dragic. Since opening its first shop more than a decade ago, the Group has grown to be the clear Romanian market leader, expanding internationally, and including multiple brands across Europe. In 2019, Superbet secured EUR175 million minority investment from Blackstone, a US-based global investment Group, to supercharge its growth.
Magdalena Soucek was Country Managing Partner for EY in the Czech Republic from 2008 until December 2021. From 2011 to 2020 she was also the Managing Partner for the Central Cluster at EY, which includes Czech Republic, Slovakia, Hungary, Slovenia, Serbia, Croatia, Bosnia, Herzegovina, and Montenegro. Under her leadership, the Cluster has almost doubled in size into a 220 million dollars business, with 80 partners and 2,500 people. She has over 30 years of experience in providing audit and advisory business services. During her practice, she specialized in auditing and other projects for clients mainly from the pharmaceutical, manufacturing, and real estate industries for both leading multinational and Czech companies.
Shareholders will also vote on a share capital increase operation with cash contributions. One United Properties seeks to raise up to EUR100 million in equity from investors in a share 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 having successfully raised EUR52.8 million in an IPO.
The capital raised will fuel the growth strategy of One United Properties, allowing the company to seize additional opportunities in the market. The new equity will be invested with priority in new developments, according to the existing solid pipeline of the company, while the current cash position will be used to accelerate the delivery of the ongoing developments. The company’s focus is to invest with priority in Bucharest, where most of the pipeline is located.