|
TTF: Resolution of the annual shareholders’ meeting
Truong Thanh Furniture Corporation (TTFC) has informed of resolution of the annual shareholders’ meeting which was held on April 26th 2008. The meeting was unanimous the following issues:
Article 1: Financial statement and business result in 2007:
Revenue*: VND611,275,736,000
Profit after tax (after deducting minority interest): VND52,244,581,969
EPS: VND5,134
* Integrated figures of processing wood (TTFC and 2 subsidiaries)
Article 2: Report of the BOD
Article 3: Report of the Supervisory Board
Article 4: Pass business plan for 2008 and long-term orientation of the company
Output: 25,000m3
Total revenue**: VND1,131,000,000,000
Profit after tax (after deducting minority interest): VND87,930,000,000
** Integrated figures of processing wood (TTFC and 4 subsidiaries)
Article 5: Pass amendment of regulations
Article 6: Pass chairman of the BOD holding the position of Director General and dismissal of Ms Ho Thi Minh Thao – member of the BOD
Article 7: Pass dividend payment 2007 of 20% in which 10% for cash dividend in advance and 10% for cash dividend payment in May 2008.
Article 8: Pass deduction for funds from profit after tax 2007
Development investment fund: 10% profit after tax or VND5,224,000,000
Welfare and bonus fund: 10% profit after tax or VND5,224,000,000
Financial reserve fund: 5% profit after tax or VND2,612,000,000
Reserve fund for supplementing chartered capital: 5% profit after tax or VND2,612,000,000
Article 9: Issuance of bonus shares from share premium account to existing shareholders (ratio 3:1) is expected to implement in the last 6 months 2008.
Article 10: Compensation for the BOD and Supervisory Board 2008 which is VND900,000,000
Reward for the BOD and Supervisory Board: 1,000,000 shares
Offering price: equal to the closing price on April 25th 2008
The right is implemented after 12 months from the date of the closing price and no more than 15 months.
In case stock is divided, the price will be re-calculated.
HoSE
|
