One United Properties approves dividends of 15.2 million Euro for financial year 2021

On April 26, 2022, One United Properties convened a General Meeting of Shareholders (GMS). During the GMS, the shareholders approved the distribution of the second tranche of the dividends, share capital increase with cash contributions or the issuance of convertible bonds, as well as the share buyback.

For 2021, One United Properties will pay a total gross dividend of 15.2 million Euro. The first tranche of gross dividends of 6.6 million Euro was approved in the GMS in September 2021 and paid in October 2021. The Board of Directors proposed to the shareholders the approval of the second tranche of 8.6 million Euro.

The GMS elected a new Board of Directors of One United Properties, comprising of seven Members: Claudio Cisullo, Victor Capitanu, Andrei-Liviu Diaconescu, Dragos Manda, Marius Diaconu, all of whom were part of One United Properties’ previous Board of Directors, as well as two new Board Members – Augusta Dragic, who co-founded the Superbet Group in 2008, and Magdalena Souckova (Soucek), the Country Managing Partner for EY in the Czech Republic between 2008 and 2021. The mandates of the previous Members of the Board of Directors expired on April 26, 2022, the date when the new Board was appointed.

The shareholders also approved a share capital increase operation with cash contributions or through the issuance of convertible bonds. One United Properties intends to raise up to 150 million euro to fuel the growth strategy and to allow the company to seize additional opportunities in the market.

The new capital will be invested with priority in new developments, according to the existing pipeline of the company, while the current cash position will be used to accelerate the delivery of the ongoing developments.

One United Properties is currently in advanced negotiations for ten future developments as well as it is in early discussion or negotiation stages for more than 20 other developments. The ten developments currently in advanced negotiations are primarily focused on medium and medium-high income residential properties. If signed, approximately 10,000 apartments with more than 1 million square meters above ground of gross buildable area would be developed on these lands by One United Properties over the next seven years.

In 2021, the turnover of One United Properties grew by 109 percent year-on-year, reaching a milestone of 228 million Euro in consolidated annual revenue.