Dubai PR Network, Online Press Release from Dubai and Middle East
 
Mall, Retail & Hospitality(Real Estate & Retail)
Filter PR by
  
Effective September 1st – Union Coop allows all UAE Citizens to buy its shares.
 
Effective September 1st – Union Coop allows all UAE Citizens to buy its shares.

The decision came as a result of continuous efforts. 

July 01, 2019 - Dubai, UAE:

Union Cooperative, the largest Consumer Cooperative in the UAE announced that all UAE citizens will soon be able to buy their shares and investing in Union Coop. 

H.E. Majid Hamad Rahma Al Shamsi, Chairman of Union Coop said: “This decision is a result of continuous efforts made by the Board of Directors over the past years to empower consumer cooperatives promote expansion to other emirates and to allow all UAE citizens to get financial returns by investing their money in a distinct National economic institution with a strong and growing financial performance such as Union Coop.” 

“All UAE Nationals will be able to buy Union Coop shares and become shareholders starting September 1, 2019. The interested individuals can visit the ‘Shareholders’ center at Etihad Mall, Dubai along with the required documents to register as shareholders of Union Coop. The Board of Directors decided to allow all UAE citizens to purchase the shares of Union Coop after obtaining the necessary approvals from the Ministry of Economy,” said Al Shamsi. 

Al Shamsi pointed out: “The shifting of Consumer Cooperatives to become under the umbrella of Ministry of Economy will not only benefit fellow citizens but will also maximize the role of consumer cooperatives in controlling prices of goods in the retail market of the state and will actively involve them in building a National Strategic Sustainable Food Stock. This will also increase the investment and income opportunities for the UAE citizens and intensify the efforts to serve the community by increasing the initiatives and programs that support the activities of various institutions, which contribute to the achievement of the objectives of the wise leadership. All of this will raise levels of services beyond the expectations of the community members.” 

He indicated: “Many citizens have waited for long and still waiting to purchase Union Coop shares, due to its performance in the market and its reputation as Nation’s leading Consumer Cooperative in terms of financial performance, quality products and services and its roles in community contributions. The opportunity has come to those citizens to fulfill their aspiration, which is one of the objectives of Union Coop to promote the happiness of the society and its member citizens as shareholders, consumers and residents, who are partners in our success through their valuable trust in Union Coop.”

Union Coop witnessed a 26.5 percent increase in net profit for the first quarter of 2019, compared to the same period of the previous year, with an increase of AED 28.8 Million. The Net profit reported was AED 109.7 million in 2018 to AED 138.5 Million in 2019.


Posted by : Dubai PR Network Editorial Team
Viewed 4642 times
PR Category : Real Estate & Retail
Posted on : Monday, July 1, 2019  4:43:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Dubai Festival City Mall Contributing to UAE's Green Economy...
Next Story : Dubai Festival City Mall Celebrates Canada Day
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
VARA - 2019 Fall/Winter Collection [7625-Views]
Nursery children gift Eid packages to labourers [5588-Views]
An increase of 36.7% compared to the first quarter [5051-Views]
US $859bn Oil, Gas and Petrochemical Projects Underway or Planned in the MENA Region as Gl... [4868-Views]
Eid Al Adha Event Program [4862-Views]
Dubai Festival City Mall Celebrates Global Independence Days with Exclusive IMAGINE shows [4843-Views]
Eid Gifting [4544-Views]
Turkish Airlines continues its journey to the top with new cabin uniforms [4532-Views]
Alisha Moopen appointed as the Deputy Managing Director of Aster DM Healthcare [4459-Views]
Evonik sticks to full-year outlook despite cooling economy [4331-Views]
Zulekha Hospital Sharjah Honored With Baby Friendly Hospital (BFHI) Accreditation From Uni... [4105-Views]
Benefits to young people of becoming a freelancer a focus at International Youth Day event [4099-Views]
Al-Futtaim Toyota delivers strong H1 results [4038-Views]
GEMS Education offers up some expert ways to get your children to read in the late summer ... [4032-Views]
FireEye Identifies Prolific Chinese Cyber Threat Group [3941-Views]
Eyes of the World on Expo 2020 Dubai [3941-Views]
MoHAP Announces Working Hours at Primary Health Care & Preventive Medicine Centers During ... [3916-Views]
Lenovo Introduces Single-socket Servers, Designed Specifically for Edge and Data-intensive... [3819-Views]
Facebook Users to Become More Aware of Their Data Usage [3776-Views]
SCCI and Sharjah Police to Launch Joint initiatives to Meet Business Sector Aspirations in... [3666-Views]
Empower awards network extension contract worth AED 25 million [3630-Views]
LG Signature Responds to Market Demand for Luxury Appliances With Expanded Lineup [3611-Views]
9th Muslim World Business and Investment Zone to host Jewels of the Muslim World Award and... [3538-Views]
DFSA signs MoU with the Central Bank of Egypt [3495-Views]
Sharjah Exports Development Center Achieves Record Results in First Half of 2019 [3471-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories