One United: Founding members get super-voting shares, the rest get dividends

One United Properties, one of the most active real estate developers of residential, office, and mixed projects in Bucharest (ONE ), will distribute dividends worth RON 32.5 mln (EUR 6.5 mln) and free shares, the measures already approved by the shareholders in the general meeting of September 10.

The shareholders also approved on September 10 the introduction of a new class of shares, B, to confer founding shareholders Victor Căpitanu and Andrei Diaconescu a voting power five times greater than regular shares, Ziarul Financiar reported.

According to the EGMS convening notice, 11.37% of the share capital of the company owned by Victor Căpitanu will be converted into Class B shares.

The same, and the same percentage of the capital is valid for Andrei Diaconescu. Consequently, the two will hold 59% of the total voting rights.

The company’s capitalisation is RON 2.8 bln (EUR 560 mln). The shareholders also approved to increase the capital with the amount of up to RON 228.8 mln (by issuing 1.144 bln new shares with a nominal value of RON 0.2) to incorporate approximately 80% of the issue premiums resulting from the public offer that took place between June 22 and July 2, 2021.

The new shares will be distributed in proportion of 4 new shares for every 5 shares held, to the shareholders who will hold ONE shares on the registration date December 17, 2021.

(Photo courtesy of the company)