Enel: resolutions of the Shareholders’ Meeting 2024, resolved a dividend of 0.43 euros per share, up 7.5% over previous year
Rome – WEBWIRE – Friday, May 24, 2024
- Financial statements at December 31st, 2023 approved and overall dividend of 0.43 euros per share resolved (0.215 euros already paid as interim dividend in January 2024 and the remaining 0.215 euros to be paid as balance in July 2024), up 7.5% compared to the overall dividend of 0.40 euros per share recognized for the 2022 financial year
- Authorization for the acquisition and disposal of treasury shares renewed subject to the revocation of the authorization granted by the Shareholders Meeting of May 10th, 2023
- Long-term incentive plan 2024 for the management of the Enel Group as well as the Report on the remuneration policy for 2024 and the compensations paid in 2023 approved
The Ordinary Shareholders Meeting of Enel S.p.A. (Enel or the Company), chaired by Paolo Scaroni, was heldin Rome.
Pursuant to Article 106, paragraph 4, of Law-Decree no. 18 of March 17th, 2020, converted with amendments by Law no. 27 of April 24th, 2020 (whose final application deadline was last extended to December 31st, 2024 by Article 11, paragraph 2, of Law no. 21 of March 5th, 2024), participation of those entitled to attend and vote in the Shareholders Meeting took place exclusively through the representative appointed by the Company pursuant to Article 135-undeciesof Legislative Decree no. 58 of February 24th, 1998. Upon the start of the works, around 64.941916% of Enels share capital was represented at the Meeting.
First of all, the Shareholders Meeting approved Enels financial statements at December 31st, 2023, while the consolidated financial statements and the consolidated non-financial statement of the Enel Group, both referred to the same financial year, were presented.
Acting on a proposal of the Board of Directors, the Shareholders Meeting also approved an overall dividend of 0.43 euros per share, a 7.5% increase compared to the overall dividend of 0.40 euros per share recognized for the 2022 financial year,and the distribution of0.215 euros per share as the balance of the dividend, of which 0.065 euros as distribution of the 2023 net income and 0.15 euros as partial distribution of the available reserve named retained earnings, following the interim dividend of 0.215 euros per share already paid in January 2024 (pursuant to the relevant legislation, the dividend was not distributed to the 10,085,106 treasury shares held by the Company at the record date, i.e. the date of entitlement for the dividend payment, of January 23rd, 2024). The balance of the dividend will be paid net of the treasury shares that will be held by Enel at the record date indicated here below and before withholding tax, if any from July 24th, 2024, with the ex-dividend date of coupon no. 40 falling on July 22nd, 2024 and the record date falling on July 23rd, 2024.
Enels Shareholders Meeting also renewed the authorization to the Companys Board of Directors for the acquisition and subsequent disposal of treasury shares up to a maximum of 500 million Enel shares, representing around 4.92% of the Companys share capital, for a total outlay of up to 2 billion euros, upon revocation of the previous similar authorization granted by the ordinary Shareholders Meeting held on May 10th, 2023. The acquisition of the Companys treasury shares has been authorized for 18 months from todays Shareholders Meeting resolution; conversely, no time limit has been set for the disposal of the treasury shares purchased. The Shareholders Meeting also defined, in accordance with the Board of Directors proposal, purposes, terms and conditions of the acquisition and disposal of the Companys treasury shares, specifically identifying the rules for calculating the purchase price, as well as the operational rules concerning the execution of the purchasing transactions.
The Shareholders Meeting also approved the Long Term Incentive Plan 2024 reserved to the management of Enel and/or its subsidiaries pursuant to Article 2359 of the Italian Civil Code.
Finally, concerning the Report on the remuneration policy for 2024 and the compensations paid in 2023, the Shareholders Meeting approved, in compliance with the relevant legislation:
- with a binding resolution, the first section of the above Report, which illustrates the policy adopted by the Company on the remuneration of the members of the Board of Directors, the General Manager, the Executives with strategic responsibilities and the members of the Board of Statutory Auditors related to the financial year 2024, as well as the procedures used for the adoption and implementation of such policy;
- with a non-binding resolution, the second section of the same Report, which indicates the compensations of the members of the Board of Directors and of the Board of Statutory Auditors, of the General Manager and of the Executives with strategic responsibilities related to the financial year 2023.
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For the dissemination to the public and the storage of regulated information made available to the public, Enel S.p.A. has decided to use respectively the platforms eMarket SDIR and eMarket Storage, both available at the addresswww.emarketstorage.comand managed by Teleborsa S.r.l. – with registered office in Rome, at 4 Piazza Priscilla – as per CONSOB authorization and resolutions n. 22517 and 22518 of November 23, 2022.
From May 19th2014 to June 30th2015, Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated 1Info, available at the addresswww.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by Consob with resolution No. 18852 of April 9th, 2014.
Stella Holdings Berhad (“Stella” or the “Company”), an experienced player in the field of construction, property investment, and property development, is pleased to announce that all resolutions set forth at its Extraordinary General Meeting (EGM) have received endorsement from shareholders. Notably, a significant resolution encompassing the acquisition of Pembinaan Teguh Maju Sdn Bhd (“PTM”) was approved unanimously.Japan – Stella Wins Shareholders’ Nod in EGM for PTM Acquisition & Strategic Changes
The acquisition of PTM comes with considerable promise and far-reaching implications for Stella. Valued at a total purchase consideration of RM380.0 million, PTM will become a wholly-owned subsidiary of Stella. This acquisition is especially noteworthy given PTM’s RM1.16 billion worth of outstanding orders in areas such as roadworks, building construction, and mechanical and electrical projects. Furthermore, PTM has submitted quotations and is in discussions for contracts totalling approximately RM1.78 billion, amplifying the earnings potential over the next three financial years.
PTM also provides a profit guarantee of RM120.0 million for the financial years ending 30 June 2024, 2025, and 2026 on an aggregate basis to the Company.
The EGM also endorsed a significant private placement of up to 50.0 million shares, equating to around 74.63% of the current total number of issued Stella shares or 11.99% post-acquisition. This initiative aims to raise RM40.0 million for necessities like construction materials, labour costs, and subcontractors.
Complementing this acquisition, Stella Holdings Berhad will undergo a rebranding to become Varia Berhad, a change that encapsulates its wider vision and growth objectives.
After the conclusion of the EGM, Datuk Benson Lau, Managing Director of Stella, commented with enthusiasm: “Our unanimous decision to acquire PTM marks a pivotal moment for Stella. This new addition brings a vast RM1.16 billion worth of outstanding orders into our portfolio, thereby solidifying our growth prospects. PTM’s strengths in civil engineering, roadworks, and various infrastructure projects represent a perfect strategic alignment with our existing operations. We are also emboldened by our shareholders’ resolute support for our ambitious private placement and rebranding initiatives. Their unwavering confidence empowers us to aim higher and execute our strategic roadmap to fruition.”
As at 2 November 2023, 12:30 P.M., Stella Holdings Berhad’s share price is RM1.07 with a market capitalisation of RM71.7 million.
Stella Holdings Berhad: 5006 [BURSA: STELLA], https://stella-holdings.com.my/
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Artroniq Shareholders Approve Private Placement to Raise up to RM36.8 Million
Leading global information and communications technology (ICT) provider Artroniq Berhad is pleased to announce that shareholders have approved all resolutions at the Company’s EGM today.
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| Marcus Chin Choon Wei, Chief Financial Officer of Artroniq Berhad |
Shareholders approved a private placement of up to 65,659,400 placement shares, representing 20.0% of the Company’s total number of issued shares, to raise gross proceeds of up to RM36.8 million for the diversification into the manufacturing of electric bicycles (e-bikes), general working capital and estimated expenses for the proposal.
Shareholders also approved the proposal to diversify into the e-bikes business as part of the Company’s strategy to diversify its income stream.
A bonus issue of up to 196,978,202 new warrants on the basis of one warrant for every two existing ordinary shares in the Company was also approved to reward shareholders for their support by enabling them to participate in its convertible securities as well as to provide them with an opportunity to increase their equity participation should they exercise the warrants.
In the event that all the warrants are exercised at the exercise price of RM0.60 each, the Company will raise gross proceeds of RM118 million to be used for working capital requirements, including payments to suppliers and trade creditors, staff costs, directors’ remuneration and statutory contributions, overhead expenditures and, compliance expenses.
Marcus Chin Choon Wei, Chief Financial Officer of Artroniq, said, “I would like to thank all our shareholders who participated in the EGM to shape the future of the Company. We also want to thank them for their trust in the board of directors and management in guiding the business to greater success.”
“The e-bikes business not only adds an additional income stream, but it also enhances our earnings with a contribution of 25% or more in net profit besides resulting in the diversion of 25% or more of the Company’s net assets. The ICT products business comprising provision of point-of-sale (POS) solutions and distribution of POS hardware, peripherals and related services will remain as the Company seek to leverage on opportunities in technology trends.”
Earlier this year, Artroniq’s wholly owned subsidiary, Artroniq iTech Sdn Bhd, was awarded a RM100.0 million, two-year contract by Beno Inc. to assemble the Reevo series of e-bikes totalling 7,000 units that is expected to be completed on or before 30 September 2023.
As of 19 May 2023, Artroniq’s share price is at RM0.80sen with a market capitalisation of RM262.6 million.
Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/
Topic: Press release summary
Samaiden Shareholders Pass All Resolutions at AGM
Samaiden Group Berhad, a renewable energy (RE) specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants, reported that shareholders have passed all resolutions at the 3rd AGM held today.
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| Group Managing Director of Samaiden, Ir. Chow Pui Hee |
Among the resolutions passed were the re-election of Lim Poh Seong and Fong Yeng Foon as directors pursuant to the Constitution of the Company as well as the re-appointment of TGS TW PLT as auditors of the Company. Shareholders also passed the resolution empowering the board of directors to issue and allot up to 10% of the total number of issued shares of the Company for the time being pursuant to Sections 75 and 76 of the Companies Act 2016.
Group Managing Director of Samaiden, Ir. Chow Pui Hee said, “This is the first ever AGM we are holding physically ever since Samaiden was listed in October 2020 on the ACE Market. We are glad to meet our shareholders and would like to thank them for their trust and confidence in us as we endeavoured to steer the business safely through the COVID-19 pandemic. While financial year ended 30 June 2022 (FY2022) has not been without its challenges, we note the increasing adoption of RE as businesses and organisations come to terms with climate change and also volatile fossil fuel costs.”
“Over the mid-to-long term, we see greater clarity for RE given the rollout of the National Energy Policy 2022-2040 in September 2022 outlining the key priorities for Malaysia’s socioeconomic development. Given that sustainability practices are increasingly being used to benchmark businesses, easy access and the ready availability of RE is crucial for growth as it also covers other indices used to gauge green attributes such as carbon credits, carbon emissions and RE certificates.”
“We view positively the more stable political climate in Malaysia as this will boost investor sentiment and funding for more RE infrastructure. Samaiden continues to seek opportunities to offer our EPCC services for the installation of solar PV systems as well as solar and non-solar power plants by leveraging on our core competency and experience in providing end-to-end services for potential solar PV and other non-solar projects.”
Samaiden has an outstanding orderbook of RM325.40 million as at 30 September 2022 with earnings visibility over the next three years.
Samaiden Group Berhad: 0223 [BURSA: SAMAIDEN], https://samaiden.com.my/
Topic: Press release summary
Shareholders of G Neptune Approved its Regularisation Plan
The non-interested shareholders of G Neptune Berhad have approved its proposed regularisation plan during the extraordinary general meeting (EGM) held today. The shareholders’ approval marks a key milestone for G Neptune’s proposed regularisation plan which is expected to address the Company’s Guidance Note 3 (GN3) status as well as return it to a stronger financial standing as well as profitability.
An integral part of the approved regularisation plan is the proposed acquisition of the entire equity interest in Southern Score Sdn Bhd from Super Advantage Property Sdn Bhd for a purchase consideration of RM252.0 million to be satisfied through the issuance of 1.68 billion shares.
Southern Score is a construction management services company with a recorded net profit of RM6.51 million, RM19.20 million and RM35.18 million in the financial year ended 31 December 2019, 2020 and 2021 respectively. Super Advantage, being the vendor of Southern Score, has provided cumulative net profit guarantee of RM80.0 million over the three-year period from 2022 to 2024. Super Advantage is held by Tan Sri Datuk Seri Gan Yu Chai, the Managing Director of Southern Score, a veteran in the construction and property development industries with more than 30 years’ experience as well as Gan Yee Hin, the Executive Director and Chief Executive Officer of Southern Score.
Shareholders also approved to change the Company’s name to “Southern Score Builders Berhad”, a move undertaken by the Company to better reflect G Neptune’s new corporate identity moving forward.
Commenting on the shareholders’ approval, Gan Yee Hin said, “We would like to thank the shareholders for putting their trust and confidence in us. This is a key milestone towards the long-awaited completion of the regularisation plan. With the injection of Southern Score, we believe that G Neptune will be in a stronger financial standing and profitability, thereby benefiting all stakeholders.”
Other than the proposed acquisition and proposed change of name, shareholders also approved the following proposals which are part of the proposed regularisation plan:
– proposed consolidation of every 10 existing G Neptune’s shares into one share;
– proposed debt settlement amounting to RM3.1 million to Mr. Chai Tham Poh, an Executive Director of G Neptune, via the issuance of 20.67 million shares;
– proposed private placement to raise at least RM108.6 million through the issuance of 543.05 million shares to investors to be identified later and;
– proposed exemption from the obligation to undertake a mandatory takeover offer for the remaining G Neptune shares not already owned by Super Advantage as well as Tan Sri Datuk Seri Gan Yu Chai and Gan Yee Hin.
Gan Yee Hin added, “The shareholders’ approval obtained today heralds a new beginning for Southern Score as we gain a step closer towards obtaining a listing status via GNB. We intend to leverage on our listing status to further grow our business for which our shareholders will also be able to partake in. We expect Southern Score’s growth to be fuelled from growth in the construction sector where construction activities is expected to increase in tandem with economic growth following the reopening of the economy and country borders.”
Kenanga Investment Bank Berhad is the principal adviser and sponsor for the proposed regularisation plan as well as placement agent for the proposed private placement while Malacca Securities Sdn Bhd is the independent adviser for the proposed exemption.
G Neptune Berhad: 0045 [BURSA: GNB], https://www.gneptune.com/
Southern Score: https://southernscore.com.my/
Topic: Press release summary
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