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CRE: Resolution on planning stock issuance to raise charter capital November 24, 2020, the General Meeting of Shareholders of Century Land Joint Stock Company issued a resolution to approve the plan for stock issuance to raise charter capital from the owner’s equity with the following details:
1) The General Meeting of Shareholders approved the plan to raise charter capital from VND 800,000,000,000 to VND 959,999,780,000 in form of issuing shares to raise charter capital from the owner’s equity according to Proposal 72/2020/TTr-HĐQT dated November 11, 2020 with the following details:
- Stock name: Century Land Joint Stock Company
- Stock type: common share
- Stock code: CRE
- Current charter capital: VND 800,000,000,000
- Number of outstanding shares: 79,999,892 shares
- Number of treasury shares: 108 shares
- Par value: VND 10,000/share
- Expected issue volume: 15,999,978
- Total value of issue: VND 159,999,780,000
- Expected charter capital after the issuance: VND 959,999,780,000
- Exercise ratio: 10:02 (At the record date, shareholder who owns 10 shares will be received 02 new shares).
- The new shares are freely transferable
- The number of newly issued shares bought by each existing shareholder will be rounded down. The fractional shares will be cancelled.
- For example: At the record date, the shareholder A owns 82 shares. With 10:02 performing ratio, the shareholder A will receive: 82 /10 *0.2 = 16.4 shares. According to rounding policy, the shareholder A receives 16 new shares. The fractional shares of 0.4 shares will be cancelled.
- Expected execution time: 2020 or Quarter 1/2021.
2) Approving to register to deposit at the Vietnam Securities Depository (VSD) and list on the Hochiminh Stock Exchange (HOSE) for new shares. HOSE
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