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01 january 2014
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DXB Entertainments (P.J.S.C.)

DXBE
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  • Market: DFM
  • Symbol: DXBE
  • ISIN: AED001501017
  • Sector: Consumer Staples and Discretionary

Company Brief

DXB Entertainments PJSC (previously Dubai Parks and Resorts PJSC) is a Dubai-based operator of leisure and entertainment destinations and experiences. The Company is traded on the Dubai Financial Market (DFM) under the trading symbol DXBE. We bring together a diverse portfolio of world-class brands to offer entertainment in the areas of theme parks, family entertainment centres and retail and hospitality.

DXB Entertainments is the owner of Dubai Parks and Resorts, the regions largest integrated theme park destination, with five Theme Parks (Six Flags Dubai under development), two Hotels (LEGOLAND® Hotel under development), and one retail and dining facility all spread over 30.6 million sq.ft of land, with an estimated AED 13.2 billion in development costs.

DXB Entertainments also manages six Dubai-based mid-way attractions in addition to a chain of cinemas, all owned by Meraas.

Key Facts

ESTABLISHED

Jul 12, 2012

AUDITOR

Deloitte & Touche (M.E)

FISCAL YEAR END

DECEMBER

REGISTRAR

Dubai Financial Market PJSC

Board Members

CHAIRMAN

Mr. Abdul Wahab Al-Halabi

VICE CHAIRMAN
Mr. Mukesh Sodani

MEMBERS

Mr. Mohammed AlMulla
Ms. Amina Taher 
Mr. Shravan Shroff
Mr. Malek Sultan Rashed Al Malek

Top Management

Chief Executive Officer and Managing Director

Mr Mohamed Almulla

Deputy CEO

Mr Ahmed Hussain Bin Issa

Chief Financial Officer

Mr John Ireland

Chief Commercial Officer

Mr Ahmed Alrayyes

Chief Business Support Officer

Mr Waseem Hassan

General Manager of Family Entertainment Centers

Mr Paul Parker

Director of Governance and Compliance

Ms Jean Fitzgerald


Contact Information

Ms. Marwa Gouda

Head of Investor Relations

Email: IR@dxbentertainments.com





Equity Profile

DATE OF LISTING

Dec 10, 2014

SECTOR

Consumer Staples & Discretionary

AUTHORIZED CAPITAL:

12,643,655,416.00 AED

ISSUED SHARES

7,999,912,670.00

PAR VALUE/SHARE

1.00 AED

Contact Details

Head Office

Sheikh Zayed Road, Opposite Palm Jebel Ali, Exit 5, Saih Shuaib
PO Box 33772 Dubai

Phone No.

04 8200820

Investor Relations Email:
IR@dxbentertainments.com

Website:
www.dxbentertainments.com

Showing Last 10 Disclosures - DXBE View all
DXBE 06-11-2018 09:16 AM

Press release regarding financial results for the 3rd QTR of 2018

1 File(s)
DXBE 06-11-2018 09:14 AM

Results of BOD meeting including financial statements for the 3rd QTR of 2018

2 File(s)
DXBE 31-10-2018 02:28 AM

BOD meeting

1 File(s)
DXBE 17-10-2018 09:44 AM

Press release

1 File(s)
DXBE 10-10-2018 08:58 AM

Press release

1 File(s)
DXBE 09-10-2018 02:21 AM

Press release

1 File(s)
DXBE 30-09-2018 10:30 AM

Financial statements for the 3rd QTR of 2018

1 File(s)
DXBE 30-08-2018 09:00 AM

Results of BOD meeting held by circulation

1 File(s)
DXBE 27-08-2018 08:32 AM

BOD meeting to be held by circulation

1 File(s)
DXBE 09-08-2018 08:40 AM

Press release regarding financial results for the first half of 2018

1 File(s)
Showing Last 10 Issuer News - DXBE View all
DXBE 02-10-2018 09:43 AM

Press release

1 File(s)
DXBE 23-07-2018 08:52 AM

Press release

1 File(s)
DXBE 25-04-2018 10:25 AM

Press release

1 File(s)
DXBE 22-10-2017 09:54 AM

Press release

1 File(s)
DXBE 10-10-2017 09:14 AM

Notification from the company

1 File(s)
DXBE 27-08-2017 10:30 AM

Press release

1 File(s)
DXBE 20-08-2017 09:20 AM

Press release

1 File(s)
DXBE 05-06-2017 09:08 AM

Press release

1 File(s)
DXBE 25-05-2017 09:47 AM

Press release

1 File(s)
DXBE 24-05-2017 09:22 AM

Press release

1 File(s)
Showing Last 10 Financial Reports - DXBE View all
DXBE 30-09-2018 10:30 AM

Financial statements for the 3rd QTR of 2018

1 File(s)
DXBE 09-08-2018 08:38 AM

Financial statements for the 2nd QTR of 2018

1 File(s)
DXBE 09-05-2018 02:43 AM

Financial statements for the 1st QTR of 2018

1 File(s)
DXBE 31-12-2017 10:30 AM

Financial statements for the year of 2017

1 File(s)
DXBE 12-11-2017 08:50 AM

Financial statements for the 3rd QTR of 2017

1 File(s)
DXBE 06-08-2017 03:30 AM

Financial statements for the 2nd QTR of 2017

1 File(s)
DXBE 10-05-2017 08:43 AM

Financial statements for the 1st QTR of 2017

1 File(s)
DXBE 31-12-2016 01:57 AM

Financial statements for the year of 2016

1 File(s)
DXBE 30-09-2016 10:30 AM

Financial statements for the 3rd QTR of 2016

1 File(s)
DXBE 30-06-2016 12:28 AM

Financial statements for the 2nd QTR of 2016

1 File(s)
Showing Last 10 General Meetings - DXBE View all
Meeting Date/TimeApr 25, 2018 04:00:00 AMType of MeetingGeneral Assembly
Net Profit/Loss(1.1) billionCash Dividend
Bonus Share
Announcements/Resolutions

The General Assembly Meeting of DXB ENTERTAINMENTS PJSC was held today, Monday 25th April 2018  at 4:20 pm at Lapita Hotel- Dubai, where the Shareholders participation was 75.1%.

The following resolutions were adopted at the meeting:

1.      Approved the Board of Directors’ report in respect of the activity and financial position of the Company for the financial year ended 31 December 2017.

2.    Approved the External Auditors’ report for the financial year ended 31 December 2017.

3.    Approved the Company’s balance sheet and income statement for the financial year ended 31 December 2017.

4.    Discharged the Board of Directors from any liability for the financial year ended 31 December 2017.

5.    Discharged the External Auditors from any liability for the financial year ended 31 December 2017.

6.    Approved the reappointment of Deloitte & Touche (M.E.) as the external auditors for the financial year 2018 and their fees amounting to AED 315,000.

7.    Approved the Board’s decision to appoint Mr.Malek Sultan Rashed AlMalek to the Board of Directors as an Independent Director to fill the existing vacant position for the remainder of the term of the board.

Following the request of Meraas Holding (L.L.C), in its capacity as shareholder in the Company by 0.48% and Meraas Leisure and Entertainment L.L.C, a shareholder holding more than 10% of the Company’s shares, some of the sections of special resolutions 8 were amended for further clarity.

The revised resolution as approved by the General Assembly are as follows:

Special resolution:

8. A) In accordance with Article (152) of the Federal Commercial Companies Law No. (2) of 2015 and Article (15) of the Resolution No (7 R.M) of 2016 Concerning the Standards of Institutional Discipline and Governance of Public Shareholding Companies, approved entering into a related party transaction with the Company’s majority shareholder for the issuance of convertible bonds to Meraas Holding (L.L.C), a limited liability company, in its capacity as shareholder in the Company by 0.48% and Meraas Leisure and Entertainment L.L.C a limited liability company in its capacity as shareholder in the Company by 51.82%, pro rata to their shareholding percentage in the share capital of the Company in accordance with the following terms:

      i.        Convertible Bonds Amount: Up to AED 1.235 billion

    ii.        Coupon rate: 8% per annum, compounded quarterly – to be added to the value of the convertible bonds and either converted into shares or repaid at maturity

   iii.        Collateral/Ranking: Unsecured, subordinated to senior debt

   iv.        The bondholders will have the right to subscribe for the Principal Amount in up to three (3) tranches over a six (6) month period after the initial issuance date

    v.        Strike price: AED 1.04 per share

   vi.        Tenor and Maturity: From the issuance date (to be determined following SCA approval) and maturing on 30 June 2026

  vii.        Conversion Period: The time period beginning 1 January 2021 and ending 30 June 2026

B. In relation to 8A above, approved the issuance of the Company’s convertible bonds for a total value of up to AED 1.235 billion and delivering such convertible bonds to Meraas Holding (L.L.C) and Meraas Leisure and Entertainment L.L.C whereby the Company shall issue and deliver to Meraas Holding (L.L.C) bonds for the value of up to AED 12,350,000 while bonds for the value of up to AED 1,222,650,000 shall be issued and delivered to Meraas Leisure and Entertainment L.L.C. The issued bonds shall be all convertible into shares in the Company in accordance with the terms and conditions of issuing such bonds.

C. In relation to 8A above, approved the terms and conditions of the Company’s convertible bonds announcement and for the Company to enter into all documents and agreements related to the issuance of the Company’s convertible bonds.

D. In relation to 8A above, approved granting Meraas Holding (L L C) and Meraas Leisure and Entertainment L.L.C in their capacity as the bondholders the irrevocable right to convert the bonds into shares in accordance with the terms and conditions provided in the Company’s convertible bonds terms and conditions announcement without the need for any future approvals from the general assembly of the Company for the conversion process along with authorizing the board of directors to facilitate the capital increase process.

E. In relation to 8A above, approved authorizing the board to execute the issuance of the convertible bonds in relation to the shares of the Company and authorize and delegate any of the authorised signatories of the Company or the Chief Financial Officer to (solely) represent the Company and to sign on its behalf and enter into documents, contracts and agreements in relation to the issuance of the Company’s convertible bonds and to deal with all the competent authorities, including but not limited to, Dubai Economy, Notary Public, Securities and Commodities Authority and Dubai Financial Market.

 


Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueLapita Hotel
1 File(s)
Meeting Date/TimeNov 28, 2017 04:00:00 AMType of MeetingGeneral Assembly
Net Profit/LossNACash Dividend
Bonus Share
Announcements/Resolutions

The General Assembly meeting of DXB Entertainments PJSC was held today, Tuesday 28th November 2017 at 4:00pm at the Lapita Hotel, Dubai Parks and Resorts, Jebel Ali. The Shareholders participation in today’s General Assembly was 73.9%.

The following resolutions were adopted at the General Assembly meeting:

Special resolutions:

1. Approved to cancel the Employee Shared Based Incentive Plan (ESOP) as approved by the General Assembly on 18th April 2017.

2. Approved to amend the Company’s Articles of Association as per the following:

a. According to the suggested amendments published on the Dubai Financial Market and Company website.

b. Reduce the number of board members from (9) to (7) members.

 

Ordinary resolutions:

3. In Accordance with Article (15) of the Resolution No (7 R.M) of 2016 Concerning the Standards of Institutional Discipline and Governance of Public Shareholding Companies, approved to enter into a related party transaction with the Company’s majority shareholder, Meraas, for a subordinated share holder loan under the following terms:

a.     Size of loan: AED 700m (including AED 245.2m drawn down in Sept 2017)

b.     Tenure of loan: No fixed maturity.

c.     Annual Interest: 8% fixed.

d.     Collateral/ ranking: Unsecured, subordinated to senior debt.

e.     Use of proceeds: To meet pre-and post operational losses and debt repayments due until 31 January 2018.

4.    Elected the board of Directors members for the period of 28th November 2017 to 27th November 2020.

The elected board members are:

1)     Abdulla Al Habbai

2)    Abdul Wahab Al-Halabi

3)    Edris Alrafi

4)   Mohamed Almulla

5)    Amina Taher

6)   Shravan Shroff

7) Mukesh Sodani

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueLapita Hotel
1 File(s)
Meeting Date/TimeApr 18, 2017 04:00:00 PMType of MeetingGeneral Assembly
Net Profit/Loss(484,838,000)Cash Dividend
Bonus Share
Announcements/Resolutions

The General Assembly meeting of DXB Entertainments PJSC was held today, Monday 18th April 2017 at 4:00pm at the Lapita Hotel, Dubai Parks and Resorts, Jebel Ali. The Shareholders participation in today’s General Assembly was 70%.

The following resolutions were adopted at the General Assembly meeting:

1. Approved the Board of Directors’ report in respect of the activity and financial position of the Company for the financial year ended 31 December 2016.

2. Approved the External Auditors’ report for the financial year ended 31 December 2016.

3. Approved the Company’s balance sheet and income statement for the financial year ended 31 December 2016.

4. Discharged the Board of Directors from any liability for the financial year ended 31 December 2016.

5. Discharged the External Auditors from any liability for the financial year ended 31 December 2016.

6. Approved the reappointment of Deloitte & Touche (M.E.) as the external auditors for the financial year 2017 and their fees amounting to AED 305,000.

7. Elected Mr.  Edris Alrafi as a Non-Executive member of the board of Directors to fill the existing vacant position for the remainder of the term of the board.

Special resolutions:

8. A) Approved the launch of an Employee Share based Incentive Plan (ESOP) for employees through the issuance of new shares of the Company in accordance with the provisions of Article 226 of Federal Law No (2) of 2015 regarding Commercial Companies, and in accordance with the following basic terms and conditions:

1. The maximum number of shares that can be issued for the purposes of implementing the program: 155 million shares to be issued on specific allocation dates and after the approval of the Securities and Commodities Authority.

2. Total period of the program: Two years (i.e. 1 May 2017 to 30 April 2019).

3. The value of shares issued to eligible employees: at par.

4. Functional grades eligible: Grades U-6

B) Authorized the Board of Directors to take all executive measures and adopt the necessary conditions for the implementation of the program in light   of the rules issued by the Securities and Commodities Authority, to regulate the terms and conditions of Employee Share Option Plans in public shareholding companies.

9. Approved to amend Article 18 of the Articles of Association of the Company, to increase the number of board members to be 9.

10.       Elected for the remaining term of the board, Mr.  Christian Gheorghe as a Non-Executive member andMr. Fayez Al Boainin as a Non-Executivemember of the Board of Directors for the additional seats created in accordancewith the amended Articles of Association stipulating that the Board ofDirectors shall consist of nine (9) members
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueLapita Hotel
1 File(s)
Meeting Date/TimeJun 23, 2016 02:00:00 PMType of MeetingAnnual General Meeting
Net Profit/LossNACash Dividend
Bonus Share
Announcements/Resolutions
  1. Mr. Shravan Shroff was appointed as an additional Board of Directors’ member for the remaining term of the Board.

  2. Approved to amend the Company’s Articles of Association to reflect the name change of the company to DXB Entertainments (P.J.S.C) after obtaining the required approvals from the relevant authorities.
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueHotel Taj Dubai
1 File(s)
Meeting Date/TimeApr 18, 2016 02:00:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss-109,220,000Cash Dividend
Bonus Share
Announcements/Resolutions1.  Approved the Board of Directors’ report in respect of the activity and financial position of the Company for the financial year ended 31 December 2015.

2.  Approved the External Auditors’ report for the financial year ended 31 December 2015.

3.  Approved the Company’s balance sheet and income statement for the financial year ended 31 December 2015.

4.  Approved that the amount of AED 3.7 million retained under the Equity Issue Reserve account will be transferred and offset against Accumulated Losses.

5.  Discharged the Board of Directors from any liability for the financial year ended 31 December 2015.

6.  Discharged the External Auditors from any liability for the financial year ended 31 December 2015.

7.  Approved the reappointment of Deloitte & Touche (M.E.) as the external auditors for the financial year 2016 and their fees amounting to AED 270,000.

8.  Approved the following:
a)  to finance (i) the proposed Six Flags Dubai project, (ii) for future business development purposes and (iii) to pay for expenses incurred in connection with the issuance of the rights issue shares through an increase in the issued share capital of the Company by AED 1,678,084,962 through the issuance of 1,678,084,962 shares with a nominal value of AED 1 per share such that the issued share capital of the Company shall become AED 7,999,912,670, after obtaining all approvals from relevant authorities;
b)  adopting an authorised share capital of the Company of an amount equivalent to AED 12,643,655,416, pursuant to Article 193 of the Commercial Companies Law (Federal Law No 2 for the year 2015); and
c)  delegating to the Board of Directors of the Company the power to make all decisions and perform all actions as may be necessary to implement and execute the General Assembly resolutions in respect of the increase of the issued share capital and adoption of an authorised share capital (including the power to determine the timing of the increase of the issued share capital), provided that such implementation must take place within one year from the date of the General Assembly.

9.  Approved to amend the Company’s Articles of Association to comply with the Federal Law (2) for 2015 in respect of Commercial Companies and the General Assembly’s resolution with respect to increasing the issued and authorised share capital of the Company after obtaining the required approvals from the relevant authorities.

Upon the request of SCA, the following resolutions clarifying the required amendments to the Company’s Articles of Association were also approved:

10.  To amend the Company’s Articles of Association to comply with the Federal Law No 2 for the year 2015.

11.  To amend the Company’s Articles of Association with respect to increasing the authorised share capital of the Company of an amount equivalent to AED 12,643,655,416 pursuant to Article 193 of the Commercial Companies Law (Federal Law No 2 for the year 2015).

12.  To amend the Company’s Articles of Association to increase the number of members of the Board of Directors to become seven (7).


Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueTaj Hotel
1 File(s)
Top ShareholdersLast Refreshed at: 14 November 2018

Individual Investors

ShareholdersPercentage
QATAR HOLDING LLC 10.98%
KUWAIT INVESTMENT AUTHORITY 5.07%

Associated Groups

Group NameShareholdersGroup Percentage
MERAAS LEISURE AND ENTERTAINMENT L.L.C
MERAAS LEISURE AND ENTERTAINMENT L.L.C 51.82%
MERAAS HOLDING L.L.C 0.48%
52.29%
  • 1 EN
    1

    Article of Association - DXBE 0001 (DXBE_AOA_2017)

  • 1 EN
    1

    Article of Association - DXBE 0001 (DXBE_AOA_2016)

Foreign Investments View all
National GCC Arab Foreign
Country of Origin Actual Permitted Actual Permitted Actual Permitted Actual Permitted As of Date:
UAE 69.84% 100% 18% 100% 4.19% 49% 7.97% 49% 14-11-2018
Showing Last 10 Corporate Governance Reports - DXBE View all
  • 12-04-2018

    DXBE _Corporate Governance 2017

  • 03-04-2017

    DXBE - CGR 2016

  • 31-12-2015

    Corporate Governance Report - DUBAIPARKS 2015

No data could be found.
Disclaimer
  • Ownership percentage is subject to change based on several reasons including the following:
    1. Trading activity.
    2. Off-Market Transactions such as family and inheritance transfers.
    3. Changes in the nationality status of investors.
    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.
    5. Capital increase by issuing new shares to a strategic investor.
    6. Converting Bonds into shares.
    7. Equity added to the equity of the associated group.
    8. Direct Deals.

 

Percentages are updated daily after 4 pm
Disclaimer
The above published Ownership Percentages:
  • Are updated daily at the end of every trading day based on date of trade and not settlement date.

  • The ownership percentages are rounded off to 2 decimal places

  • Ownership percentages are subject to change due to the following:

    1. Trading activities.

    2. Off-Market Transactions such as family and inheritance transfers.

    3. Changes in the nationality status of investors.

    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.

    5. Capital increases, by issuing new shares to Strategic investor

    6. Converting bonds or Sukuk into shares.

    7. Changes of associated group’s ownership.

    8. Direct Deals. (The ownership percentage is changed immediately after the execution of the deal).

    9. Failed trade settlement.


DISCLAIMER

The information provided in this document is only available in Arabic due to the (Dubai court attestations only being in Arabic herein after referred thereto as (“Information”) is provided by way of general information and comment only. While reasonable care has been taken in producing this Information, changes in circumstances may occur at any time and may impact on the accuracy of the Information. The Information does not constitute professional advice or provision of any kind of services and should not be relied upon as such.  Dubai Financial Market (“DFM”) and/or its affiliates, officers or employees,  does not give any warranty or representation as to the accuracy, reliability, timeliness or completeness of the Information now or in the future. DFM shall not be liable for any loss suffered, directly or indirectly by any person acting in reliance upon the Information contained herein. 


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