Sea Pearl to acquire 30% shares of Shamim Enterprise

Sea Pearl Beach Resort & Spa, a listed company on the Dhaka Stock Exchange, has announced to acquire 30 per cent shares of Shamim Enterprise Pvt Ltd (SEPL).

Sea Pearl’s board of directors recently approved the investment and it is now awaiting the approval of shareholders in an Extraordinary General Meeting dated 29 April on digital platform.

Sea Pearl, the owner company of Cox’s Bazar’s luxury hotel Royal Tulip, in their unaudited Q2 report of July to December of FY22, reported an increase in net profit from Tk 8 crore to Tk 42 crore, compared to previous year.

The acquisition will involve the purchase of 33,908,160 shares of SEPL at a price of Tk 10 per share.

Sea pearl’s EPS of July-December FY22 was Tk 3.50, which is 152 per cent higher than the previous fiscal.

The operating revenue of the company stands at Tk 110 crore, which is almost twice as high than the previous year’s Q2. Its share price on Tuesday stood at Tk 312.50 per share on the premier DSE bourse.

Additionally, Sea Pearl recommended a 15 per cent cash dividend for FY22 exclusively for its general shareholders.

Starting the journey on September 17, 2015, on 15 acres of land in Inani, Cox’s Bazar, the 5-star category resort has 493 rooms and suites.After its inception, it has become a favourite place for tourists in Bangladesh. All the facilities have now made it the world’s best seaside resort, according to the company.