DI board proposes foreigner ownership increase [Mubasher (Saudi Arabic)]
(Mubasher (Saudi Arabic) Via Acquire Media NewsEdge) The Board of Directors of Dubai Investments, a well-diversified
conglomerate, has proposed cash and bonus share dividends and also
increasing foreign ownership in the company, Emirates 24/7 reported.
statement sent to Dubai Financial Market said the Board held its meeting
on Sunday, March 16 where it approved distribution of five per cent bonus
share and seven per cent cash dividend for the year ended on December 31,
The Board also decided to recommend revising the minimum
percentage of shares held by UAE Nationals in the company to be not less
than 65 per cent from the current 80 per cent. Now foreigners can own up
to 35 per cent of the Dubai conglomerate.
Dubai's Investments' Board has also asked for an Extraordinary General Meeting
to be held on April 15 and Annual General Meeting on April 22.
company reported a more than two-fold jump in its 2013 net profit on the
back of higher gain on fair value of its investments, profit from sale of
properties and reduced finance costs.;
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