The 1st Annual General Meeting Mengly J. Quach Education Plc. April 30, 2024 AIS Toul Kork Campus
Presided over by the Board of Directors
1. Neak Oknha Mengly J. Quach, MD, MPH, Founder, Chairman and CEO
2. Mr. Paul Quach, Executive Director
3. Mr. Alex Quach, Executive Director
4. Lct. Lyhong Ung, Executive Director
5. Mr. Vara Kong, Independent Director
Participants
. Representatives from Securities and Exchange Regulator of Cambodia (SERC)
. Representatives from Cambodia Securities Exchange (CSX)
. MJQE Staff
. Public Shareholders of the Company
. Public
. Media…
At the Official Listing Ceremony on the Cambodia Securities Exchange (CSX) on June 28, 2023, The Mengly J. Quach Education was committed to offering at least 6% of Guaranteed Dividend for 2 years.
The Board of Directors in a meeting on March 22, 2024, approved and recommended approval of the distribution of declared cash dividends for the year 2023.
In 2023, the revenue of the company has significantly increased by KHR 45,770,415 thousand, from KHR 103,835,602 thousand to KHR 149,606,017 thousand, which is equivalent to a growth rate of 44%. The gross profit has significantly increased to KHR 29,608,500 thousand, from KHR 66,279,640 thousand to KHR 95,888,140 thousand, which is equivalent to 45%. The net profit has increased by KHR 9,638,060 thousand, equivalent to a growth rate of 102%, from KHR 9,442,635 thousand to KHR 19,080,695 thousand.
MJQE inaugurated five campuses of the American Intercon School (AIS) and the Aii Language Center (Aii), namely, Takeo (1), Sen Sok (2), and Chbar Ampov (2) campus, with a total number of 20 from 15 campuses in 2022. The groundbreaking of a new school building at the Choam Chao Campus started in the fourth quarter of 2023.
The plans for further expansion and innovation in education are underway, with new campuses and digital initiatives set to enhance our educational landscape. Construction will begin on four additional campuses in early 2024, including the 22nd and 24th campuses for both Aii and AIS, located in Chamkar Doung (2) and Toul Sangke (2).
The details of the Dividend Distribution are as follows:
1. Type of Dividend : Cash
2. Source of Dividend : Net Profit of 2023
3. Dividend Period : Annually
4. Dividend Payout Ratio : 7.60%
5. Total Dividend Distribution : KHR 1,451,068,091.20
6. Dividend Per Share : KHR 145.60
7. Ex-Dividend or Ex-Right : May 13, 2024
8. Dividend Record Date : May 15, 2024
9. Dividend Payment Date : May 24 to June 03, 2024
The Founding Shareholders waived their rights to receive dividends in favor of the development of the company, while the Public Shareholders will get 7% dividend of the IPO’s price KHR 2,080 (1% higher than then guaranteed dividend before the company joined IPO).
The Shareholders approved the distribution of cash dividend of the 2023 Profit for the Year Attributable to Shareholders of the company amounting to KHR 1,451,068,091.20 at KHR 145.60 per share and transfer of the remaining balance of the 2023 Profit for the Period Attributable to Shareholders of the company to the Retained Earnings.
The declared cash dividend of MJQE for 2023 amounts to KHR 1,451,068,091.20 at KHR 145.60 per share.
