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DXB Entertainments shareholders will get paid by June 7

Finance Dubai 06 Apr 21
DXB Entertainments shareholders will get paid by June 7
Minority shareholders of theme park operator DXB Entertainments will get paid by June 7 for selling their holdings to Meraas.
Event Location
Dubai , Dubai
Start Time
06 April 2021, 12:00 AM
End Time
30 April 2021, 12:00 AM

Dubai theme park Company, DXB Entertainments shareholders will get their cash by June 7 on Meraas takeover.

Meraas, the Dubai Company that now already owns more than 90 per cent in the company. The shares, bought for 8 fils a share, will see Meraas end up with full ownership of DXBE, which will also be de-listed from Dubai stock market.

The takeover, first announced in December, represents a bold move by Meraas to draw a line under DXBE’s mounting financial problems, which increased with the closures to tackle COVID-19’s spread. DXBE owns and operates Dubai Parks in Jebel Ali.

Meraas has issued a notice to minority shareholders to this effect. To get their cash, the shareholders must have registered with Dubai CSD at Dubai Financial Market.

“If any of DXBE’s shareholders did not register a payment method with Dubai CSD, such shareholder may face significant delays in receipt of the cash payable for his/her shares,” DXBE said in a statement.

All remaining DXBE shares - not already owned by Meraas - will be re-registered in favour of the master-developer in 60 days from April 1.

DXB Entertainments shareholders update Dubai Investments updates 2020Dubai Financial Market 2021

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