“As of today” .. “Umm Al Qaiwain Cooperative” opens the door to complete the subscription on 370.3 thousand shares
Umm Al Quwain Cooperative, managed by the Union Coop, announced, in a statement, the completion of the subscription for the capital of 370,399 shares, with the aim of increasing the volume of investment in retail trade, from September 15 to September 21, 2021 for UAE nationals holding passports of the Emirate of Umm Al Quwain , pointing out that the subscription will take place through "Aafaq Islamic Finance", at the headquarters of the Arab Cultural and Sports Club in Umm Al Quwain.
The Chairman of the Board of Directors of Umm Al Quwain Cooperative, Nasser Al-Talay, said: “We aim by completing the subscription, to raise the operating capital to operate the residential commercial center, which contains a hypermarket (cooperative), shops, and apartments, with all services and recreational facilities, in accordance with the provisions of The contract of incorporation of Umm Al Quwain Cooperative Society, its articles of association, and the management and operation contract with (Union Cooperative), indicating that the Umm Al Quwain Cooperative was established to provide the best services to consumers at competitive prices.
He added that the completion of the subscription will increase the capital, and will contribute to maximizing the benefits, providing investment opportunities, and various products with international specifications under one roof, as well as meeting the needs of community members and providing support to the social sector to achieve the vision of the leadership, pointing out that the total amount of the subscription capital will reach To more than 50 million dirhams after its completion.
In turn, the CEO of Union Coop, Khalid Humaid bin Dhiban Al Falasi, confirmed that Union Coop possesses high capabilities and expertise in the local market in the field of retail, management and operation of cooperatives and commercial centers, as it has previous experiences in managing cooperatives that have resulted in their success. and achieving the goals and vision set according to the specified timetable.
He explained that the completion of the capital subscription came in accordance with a strategy and plans set in advance, to provide the finest and quality services at competitive prices to the residents of the Emirate of Umm Al Quwain and its neighboring areas.
He added that citizens can subscribe at the headquarters of the Arab Cultural and Sports Club in the Emirate of Umm Al Quwain during the mentioned period, bearing in mind that the minimum subscription is 500 shares, the value of which is presented by a certified bank check, or by direct debit from the account of the eligible person with the bank.
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