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Batelco AGM approves 5% Bonus Share issue awarding one share for every 20 shares held by shareholders

: Saturday, March 08 - 2014 @ 12:00

Batelco Group (BATELCO) would like to clarify details of its Bonus Share issue following the AGM and EGM held at Hamala Headquarters on Tuesday 4th March.

The Group’s 33rd AGM saw shareholders approve the recommendation of the Board of Directors for a full year cash dividend of BD31.7m ($84.1m), at a value of 20 fils per share, of which 10 fils per share was already paid during the third quarter of 2013 with the remaining 10 fils to be paid in March 2013.

The meeting also saw shareholders pass the Board’s recommendation for a 5% bonus share issue, awarding one extra share for every 20 shares currently held by shareholders.

A press announcement mentioned the awarding of one share for every five shares, which is incorrect.

Batelco apologises for any misunderstanding caused by the issuing of the incorrect details.

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Saturday, March 8- 2014 @ 12:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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