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ADX organises Manazel Real Estate AGM

uae-56453Abu Dhabi Securities Exchange, ADX, has recently organised the Annual General Assembly of the Manazel Real Estate Company.

Manazel signed a Registrar Agreement with ADX in 2013, by which ADX provides an electronic system for transferring stock ownership in the company, as well as for dismantling mortgage procedures, closure and other services, in accordance with existing market laws.

During the AGM, ADX provided Manazel shareholders with services including the updating of shareholder information, depositing of share certificates, and providing statements of account.

During the meeting, Manazel announced its decision to distribute a total dividend of 7% for the year 2013 to its shareholders.

Rashed Al Baloushi, CEO of ADX, said, “We congratulate Manazel on its financial performance and we hope to continue and build on the constructive cooperation between the two organisations in the future. This is an excellent example of our objective to provide global best practice standards for our partners and stakeholders.”

Source : WAM News Agency for United Arab Emirates

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