18th Annual General Meeting of Emaar Properties today (Monday, April 18, 2016) Dubai, UAE; April 18, 2016: The 18th Annual General Meeting (AGM) of Emaar Properties PJSC will be held today (Monday, April 18, 2016), 5pm, at the Diamond Ballroom of The Address Dubai Mall. If the meeting falls short of quorum, the next AGM will be held at on Monday, April 25 at the same time and venue.
The Emaar Properties AGM will discuss the proposal of the Board of Directors to distribute cash dividends amounting to 15 per cent of the share capital being 15 fils per share for the year 2015.
The meeting will also receive and approve the report by the Board on the activities and financial position of the company as well as the Auditor’s report for the financial year ending December 31, 2015. The AGM will also appoint the auditors for 2016.
Further, the meeting will also submit the proposal by the Board of Directors to approve by special resolution the amendment of the Articles of Association of Emaar Properties in accordance with Federal Law No 2 of 2015 on Commercial Companies.
In 2015, Emaar recorded net operating profit of AED 4.383 billion (US$ 1.193 billion), 18 per cent higher than the FY2014, and revenue of AED 13.661 billion (US$ 3.719 billion), 33 per cent higher than the previous year. The shopping malls & retail and hospitality & leisure businesses recorded recurring revenues of AED 5.788 billion (US$ 1.576 billion), 42 per cent of the total revenue.