MPC: Issuance of unconvertible bonds

Minh Phu Seafood Joint stock Company (MINH PHU SEAFOOD CORP) has informed of private placement of 500 billion dong of unconvertible bonds as follows:

Issuance of corporate bonds includes 2 stages:

1st stage: issue 200 billion dongs before January 2008

2nd stage: issue 300 billion dongs before Q2/08.

Till December 31st 2007, the company completed the 1st stage and expected to finish the 2nd stage before Q2/08. However, from beginning of the year to now, due to increase of inflation, the state bank has tightened monetary policy thus; bank interest has been significantly risen compared to bond interest of the company. In addition, some banks has pushed their interest up to 18%/year causing many difficulties for issuing corporate bonds of MINH PHU SEAFOOD CORP. Therefore, underwriting organization and the company have been unanimous to extend the time of issuing bonds of the 2nd stage at the appropriate time.

HoSE

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