[asterisk-biz] [pashagroup] Etisalat confirms to take over PTCLin 2 weeks - News by GEW

Tue Feb 28 23:42:42 MST 2006

ETISALAT Board announces 25 per cent dividend to
shareholders and 25 per cent increase in gross profit
posted on 27/02/2006
The Board of Directors of Emirates Telecommunications
Corporation- ETISALAT - has convened to approve the
2005 financial year results, and present its
resolutions and recommendations. The meeting was held
in the ETISALAT Headquarters in Abu Dhabi under the
Chairmanship of Mohammad Hassan Omran, Chairman and
CEO, ETISALAT. 

The Board thanked HH Sheikh Khalifa Bin Zayed Al
Nahyan, President of the UAE, and all other leaders of
the nation for their guidance and support to ETISALAT,
which has encouraged them to perform well and achieve
good results in connecting the UAE with modern and
innovative telecommunications solutions. 

The Board passed a resolution to pay a 25% dividend to
shareholders for the second half of 2005, at Dh0.25
per share. This is in addition to the dividend of
Dh0.25 per share announced at the end of the first
half of 2005. The total dividend for shareholders in
2005 is therefore Dh0.50 per share. 

A recommendation was made by the Board to increase the
authorised capital of the Corporation from Dh4 billion
to Dh8 billion. An issue of 907,500,000 shares at Dh1
each as bonus shares to shareholders in the ratio one
share for every four held, or 25% of total holding,
was also recommended. 

A new private company is to be established under
'e-marine'- a wholly-owned ETISALAT subsidiary.
Amendments have also been recommended concerning the
basic structure of the Corporation, and full details
of these will be announced as soon as they have been
approved at the plenary session 

The Board also announced that the Corporation has
earned total revenue of Dh12.9 billion and gross
profits of Dh8.5 billion, before payment of 50 per
cent of gross profit as royalty to the UAE Federal
Government. The 2005 figures indicate an increase in
total revenue and gross profits of 23 and 25 per cent
respectively. 

During the year the assets of the Corporation
increased to a total of Dh24.1 billion, up by Dh3.7
billion or 18% from the previous year. Earnings per
share also increased from Dh0.94 in 2004 to Dh1.17 in
2005. 

The year witnessed commendable growth in all major
areas. Mobile connections reached 4.5 million lines, a
23% increase over 2004. This service has remained the
main contributor to revenue, with a share of 58%
during the year. The UAE can now boast of nearly 100
per cent penetration - this is comparable to the most
advanced countries in the world. Fixed lines also saw
a marginal growth of 4% to reach 1.2 million installed
lines. Total Internet connections, including
high-speed internet access, crossed the half million
mark during the year. 

Every year, ETISALAT contributes 50% of its profits as
royalty payment to the Government for services
rendered. ETISALAT's contribution to the national
exchequer by way of royalty this year stands at AED
4.256 billion, and the beneficiaries include the UAE
Marriage Fund and the Sheikh Zayed Housing Programme,
among others. 

ETISALAT has contributed Dh28.28 billion to the
exchequer since its inception. This is in addition to
the dividend of 50% of the face value of the shares
declared during the last 15 years, and the Bonus
Shares issued by the Corporation on several occasions.
(AMEInfo.com) 

--- Mark <mark at asteriskswitch.com> wrote:

> Seemed to have gotten corrupted in the mail server
> for me. It had to be 
> deleted from an Admin level.
> 
> Suzanne Bowen wrote:
> 
> >No problems for me whatsoever, Mark. I've spoken to
> about 20 others on this
> >list about VoIP in general since I read this email.
> In fact, it was one of
> >our topics of conversation because of the business
> implications. None of
> >them had problems with the email either. In fact,
> it was very informative.
> >Thanks for asking, Mark.
> >
> >
> >Suzanne Bowen
> >Super Technologies, Inc.
> >Pensacola, FL 32501 USA
> >tel: 8504396611, 2127363719
> >------------------------------------
> >
> >
> >-----Original Message-----
> >From: asterisk-biz-bounces at lists.digium.com
> >[mailto:asterisk-biz-bounces at lists.digium.com]On
> Behalf Of Mark
> >Sent: Monday, February 27, 2006 1:53 PM
> >To: Commercial and Business-Oriented Asterisk
> Discussion
> >Subject: Re:[asterisk-biz] [pashagroup] Etisalat
> confirms to take over
> >PTCLin 2 weeks - News by GEW
> >
> >
> >[asterisk-biz] [pashagroup] Etisalat confirms to
> take over PTCL in 2
> >weeks - News by GEW
> >
> >
> >Did this message cause problems for anyone else or
> just me?
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