GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate

 
  Share

Ras Al Khaimah, United Arab Emirates, 16 April 2018: Union Cement Company, currently listed on the Abu Dhabi Securities Exchange (ADX) plans to de-list its shares from the stock exchange and convert company into Private Joint Stock Company.

At Company's General Assembly held on 25 March 2018, shareholders of UCC resolved to de-list the Company and convert it into a Private Joint Stock Company.
 
The Shareholders also approved the redemption of shares from the current shareholders at a price of AED2.10 per share.

 The price represents 14% premium to the last traded price of AED1.85 per share and 51% premium to the last 6 months' average price.

Company published the notice of the same post General Assembly and disclosure were made on ADX and Company's website.
 
The shareholders who wish to sell their shares to the Company should notify the company of their intentions by submitting a redemption form request available on ADX website (www.adx.ae) and the Company's website (www.uccrak.com).
 
Company will make the payment for the redeemed shares within 10 working days from the expiry of the notice period i.e. 25th April, provided as part of its shareholder resolution.

Earlier this year, Shree Cement Company (listed in India with a market cap of over US$10bn) announced its intention to acquire shareholding in Union Cement Company subject to regulatory approvals.

As part of the transaction, UCC is to be de-listed from the ADX and converted into a Private Joint Stock Company.
 
Company is providing this opportunity for shareholders to benefit from attractive price and offer their shares for redemption.

Once the Company is converted into a Private Joint Stock Company, the shares will have no active market and the shareholder will have no liquidity publicly available for their shares. 

UCC's shares are currently suspended from trading on the ADX until the completion of the de-listing process.

The Company has also posted the clarification to frequently asked questions and made it available on ADX and Company's website for shareholders benefit.

 



Posted by : GoDubai Editorial Team
Viewed 3642 times
Posted on : Monday, April 16, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : 12th edition of Cityscape Abu Dhabi officially opened today
Next Story : Village Street Sale at The Outlet Village offers designer outfits at great prices
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Grand Mall Opens the 52nd Outlet in Al Musallah - Sharjah
Eid- Al- Fitr Gift Guide 2018
LOOTAH Perfumes launches four new springtime fragrances for Him and Her
Leading Professional Beauty Distributor Nazih Cosmetics Celebrates the launch of...
GUESS Launches Ramadan Collection 2018
LOOTAH Perfumes launches fragrant oud ‘Ambwood'
Meet the FOREO family as they share their top tips for radiant skin during the ...
Amani Glam Collection
Experience 5 Seconds to New Skin with OXYGEN-PEEL from Filorga
Three Trends to Try with Palladio Beauty
Lip Stick to my Heart - GOSH New Collections
Toyota Rush makes a new beginning in the UAE
Swatch Introduces Its Latest Spring-summer 2018 Collection
Carrera UAE Exhibition
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series
bebe Launches First Ever Ramadan Capsule Collection
Max Fashion Reveals Latest 2018 Fashion Trends at Exclusive Trunk Show
Global Light and Power Celebrates 10 Years with the Opening of their New Showroo...
New Master Maserati Driving Courses for 2018
Dubai's New Flagship Rolex Boutique Offers Unique Experience
Celebrate a Traditional Ramadan at the First Swissôtel in Dubai
Diabetes & Ramadan (DAR) Alliance and Sanofi introduce new integrated digital hu...
Hamdan Bin Mohammed Heritage Center honours winners in Fourth edition of "A...
HydroPeptide Launches Solar Defense Products in UAE
Make Ramadan Better With the Gift of Sharing
Enhance your natural beauty while staying active with The Body Shop's Sportify M...
Care for your baby's sensitive skin with Corine de Farme
The Balmain de Balmain II Mini is a true win-win
TAG Heuer Partners with Global Luxury Start-up Bootcamp in Association with Arab...
‘Tree of Life' Continues to Change Lives at Arabian Center, This Ramadan
Ikea Yas Island Recognised as One of the Brand's Best Stores in the World
Dubai Holy Quran Radio launches new special programmes for Ramadan
Ramadan-Inspired Sandro SS18 Pieces
Beautiful Kaftans for Ramadan from GUESS
Ethereum - Second In A Series Of Exclusive Cryptocurrency Watches Launched
Spinneys Puts Local Food Heroes in the Spotlight this Ramadan
Celebrate The Holy Month Of Ramadan With The Night Picnic At Tub Of Butter
Mads Mikkelsen Spotted on Red Carpet at Cannes Wearing Ulysse Nardin Masterpiece
LG G7 Thinq Offers Deep AI Integration for Maximum User Convenience
RAK Diabetes Center in Jumeirah offering Free Lifestyle wellness checks and Diet...
Get Voluminous Eyelashes and Eyebrows with Rodial's Lash and Brow Booster Serum
Dubai foreign trade in fragrances and beauty products worth AED 20b in 2017
Google launches new feature on Search to mark Ramadan
Aru Impressed with Team Spirit as Italian Champion Secures Top Ten Finish
Pottery Barn Kids Launches Baby Registry Service to Welcome Newborns
Dubai Customs discusses cooperation with Nedaa
OMEGA Welcomes Sailing Sensations Peter Burling and Blair Tuke as Brand Ambassadors
Facebook Launches Youth Portal, a Central Place for Teens
Charity event brings early Ramadan spirit to children of determination and their...
The Ramadan Edit 2018