Deyaar Development PJSC Announces Key AGM Agenda
Deyaar Development PJSC has called for its Annual General Assembly Meeting to discuss significant agenda items, including financial approvals and board elections.
Summary
Deyaar Development PJSC invites shareholders to its AGM on April 16, 2025, to discuss financial performance, dividends, board elections, and amendments to its articles.
Deyaar Development PJSC, a prominent player in the UAE's real estate sector, has announced its upcoming Annual General Assembly Meeting (AGM) scheduled for April 16, 2025. This meeting, to be held both electronically and in person at Millennium Al Barsha, Dubai, is set to cover a comprehensive agenda that could influence the company's strategic direction and financial health.
The AGM will address several crucial points, starting with the approval of the Board of Directors' report on the company's activities and financial position for the fiscal year ending December 31, 2024. This report will provide insights into Deyaar's operational performance and financial stability, setting the stage for informed decision-making by shareholders.
Another key agenda item is the approval of the company's balance sheet and profit and loss account for the same fiscal year. These documents are vital for assessing the company's financial health, profitability, and potential for future growth. Additionally, shareholders will consider the Board's proposal for a 5% cash dividend distribution, equivalent to 5 fils per share, highlighting Deyaar's commitment to returning value to its investors.
The meeting will also address the remuneration proposal for the Board of Directors, a topic that often sparks discussions about governance and compensation practices. Furthermore, shareholders will decide on discharging the Board and external auditors from liabilities for the year or pursuing legal action if deemed necessary.
A special resolution on the agenda seeks to amend the company's articles of association to adjust the number of Board members to seven. This change could impact the company's governance structure and strategic decision-making processes.
In terms of corporate governance, the election of new Board members is a critical component of the AGM. This election will shape Deyaar's leadership and influence its future direction. Shareholders are encouraged to participate in the e-voting process, ensuring their voices are heard in these pivotal decisions.
Given the comprehensive nature of the AGM agenda, Deyaar Development PJSC demonstrates its commitment to transparency and shareholder engagement. The company's focus on financial performance, governance, and strategic planning positions it as a key player in the UAE's real estate market.
From an investment perspective, potential investors should consider Deyaar's strong market position and its proactive approach to shareholder value. However, given the current economic climate and market volatility, a 'hold' recommendation is prudent. Investors should closely monitor the outcomes of the AGM and the company's financial performance in the coming quarters before making significant investment decisions.
Source
Summary
Deyaar Development PJSC's Board of Directors invites shareholders to attend the Annual General Assembly Meeting on April 16, 2025, at 11:00 AM, both electronically and in person at Millennium Al Barsha, Dubai. The agenda includes reviewing the Board's report on the company's activities and financial position for 2024, approving the auditor's report, the balance sheet, and profit and loss account for 2024. It also involves discussing a proposal for a 5% cash dividend, approving Board remuneration, discharging liabilities for the Board and auditors, appointing new auditors, and amending the Board's composition to seven members. Shareholders will also elect Board members. E-voting details are provided, and shareholders must register before the meeting starts. Proxies must be submitted 48 hours before the meeting. The meeting requires at least 50% shareholder attendance or representation. If quorum is not met, a second meeting will be held on April 23, 2025. Further details and reports are available on Deyaar and Dubai Financial Market websites.
Summary
The text is a clarification regarding the approval of proxies for shareholders as per Clauses 1 and 2 of Article 40 of the Corporate Governance Manual. It informs shareholders that they may delegate someone, not from the Board, company staff, or a securities brokerage company, to attend the general assembly and vote on their behalf. The delegated person should not represent more than 5% of the company's issued capital. Shareholders' signatures on the power of attorney must be verified by a notary public, a commercial chamber or economic department, a licensed bank or company, or any other licensed entity for attestation. The proxy form must include the contact details of the shareholder and the brokerage firm approving the proxy. Shareholders can issue the proxy according to their preferred limits and powers, ensuring the signature is verified by one of the mentioned authorities. For more information, shareholders can contact the company via phone or email.
Summary
The text is a proxy form for shareholders of Deyaar Development PJSC to appoint a representative to vote on their behalf at the company's Annual General Assembly meeting. The meeting is scheduled for Wednesday, April 16, 2025, at 11:00 AM and can be attended either remotely via e-voting or in person. Shareholders are required to fill out the proxy form, attach supporting documents, and submit it along with the Emirates ID of both the shareholder and the proxyholder to the specified email addresses: FinancialServices@dfm.ae or ir@deyaar.ae.
