DIC: Resolution of BOD

DIC-INTRACO’s BOD has passed the following issues:

Mr. Nguyen Duc Hai, Member of BOD and Director General, has been authorized to sign a credit contract for a loan of VND50 billion and a mortgage (if any) with the Bank for Investment and Development of Vietnam (BIDV). The purpose of the loan is to raise funds to set up the Huu Nghi II Cement Joint-stock Company with output capacity of 2,500 tons of clinker per day (975,000 tons of cement per year) at Yen Mao Commune, Thanh Thuy District, Phu Tho Province.       

The company has bought back a workshop and 100% of the contribution capital (VND3 billion) of the Nam Thai Co., Ltd., in Danang City, for investment in the DIC Tile Factory. 

- Ms. Dao Anh Phuong Quyen, Deputy Director General, has been assigned to DIC-INTRACO’s representative and Chairman of the BOD of the Nam Thai Co., Ltd., and takes responsibility for 90% of the chartered capital of the latter company.

- Mr. Nguyen Manh Chien, Manager of the Building Materials Factory, has been assigned to the representative of employees for 10% of the chartered capital and the legal representative of the Nam Thai Co., Ltd.  

- Mr. Nguyen Manh Chien has been authorized to complete the investment plan and procedures.

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