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TTP: Resolution of Annual Shareholders’ Meeting 2008
The annual shareholders’ meeting of Tan Dai Hung Plastic Joint Stock Company was held on May 16th, 2008 and unanimously adopted the following articles:
Article 1: Approving business report and audited financial statements in the fiscal year 2007, with some following issues:
Output: 8,677 tons
Revenue: VND290,146 billion
Profit after tax: VND8,776 billion
Article 2: Approving business plan for 2008:
Output: 7,000 tons
Revenue: VND243 billion
Profit before tax: VND21.10 billion, including VND12.1 billion from plastic packing.
Article 3: Approving the report of the Board of Directors on the company’s operation in 2007 and plan in 2008.
- The compensation for the Board of Directors and the Board of Supervisors in 2008 will be VND148 million.
Article 4: Approving the report of the Board of Supervisors on supervision in 2007 and plan in 2008.
Article 5: Approving profit distribution and dividend payment of the year 2007.
Financial reserve fund: VND438,810,000
Bonus and welfare fund: VND877,620,000
Dividend (7%/par value or VND700/share): VND7,280,000,000
Retained profit: VND179,776,000
Article 6: Approving the plan of distributing surplus profit of 2008:
The amount of VND104,000,000,000 from the surplus profit will be divided into 10,400,000 shares and each share is worth VND10,000.
A shareholder who holds each existing share will receive a new share. (Exercise ratio: 1:1).
After the distribution, total number of company shares will be 20,800,000 shares, and retained profit will be VND122,000,000,000.
Article 7: Approving the project of raising capital in 2008 from VND104 billion to VND280 billion.
Article 8: The Board of Directors was authorized to select an auditing company in 2008.
Article 9: Approving drafts and the company’s inside regulations.
Article 10: The Board of Directors can separate the above decisions into copies to use in related documents.
Article 11: The resolution is valid from May 16th, 2008.
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