On September 28th, 2022, One United Properties, the leading green developer of residential, mixed-use, and office real estate in Romania, convened a General Meeting of Shareholders (GMS). In the GMS, the shareholders approved, among other items, the audited financial statements for the first six months of 2022, the distribution of the first tranche of the 2022 dividend, the distribution of bonus shares in proportion of one bonus share for every three shares held as well as multiple changes to the Articles of Association.
“On behalf of One United Properties’ Board of Directors, I would like to thank all our shareholders for their active participation in yesterday’s meeting, during which we approved all of the points on the agenda. While the global markets are experiencing a whirlwind, we are proud that One United Properties continues to perform and deliver steady results to our shareholders. In addition, our strong cash position enables us to continue to implement our policy of bi-annual dividend payments. On the other hand, the changes to the Articles of Association will even further professionalize the functioning of the Board of Directors of One United Properties while increasing the accountability of the Board members through the formalization of the 1-year mandates,” said Victor Capitanu, co-CEO and Executive Member of the Board of Directors, who presided the GMS.
In the first six months of 2022, One United Properties recorded a consolidated turnover of 136.7 million euro, a 54% increase compared to the same period of 2021. The gross profit increased more than double year-on-year, reaching 78.8 million euro, while the bottom line grew 136%, amounting to 70.3 million euro. Despite continuous investments, the Group maintained a strong cash position of 102.7 million euro (situation as of June 30th, 2022 thus prior to the share capital increase with cash contributions which was finalized in August 2022 and brought 51.5 million euro) and a loan-to-value ratio of 25%.
In the OGMS held on September 28th, the shareholders approved the payment of a dividend in the amount of 7.3 million euro, or approximately 0.013 lei per share, which will be paid on November 3rd, to the shareholders who hold ONE shares at the registration date of October 18th. One United Properties’ dividend policy includes the payment of dividends on a semi-annual basis, with the first tranche being approved in September of a given year based on half-year audited results and the second tranche approved in April, together with the audited annual report.
Moreover, the EGSM approved the incorporation of approximately 87% of the premiums resulting from the share capital increase operation, which took place between June 27th and August 3rd. Consequently, shareholders who hold ONE shares on the registration date of November 3rd will receive one bonus share for every three shares held. The date of payment for the bonus shares is November 4th.
Other points on the agenda concerned the changes to the Articles of Associations, particularly related to the functioning as well as the prerogatives of the Board of Directors of One United Properties. Most notably, the shareholders approved that the mandates granted to the members of the Board of Directors will be for one year, with the possibility to be reelected.
One United Properties shareholders could cast their votes in the GMS in person and online, using the eVote solution, which streamed both the Ordinary and Extraordinary meetings in real-time.