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LBM: Resolution of the BOD
Lam Dong Minerals and Building Materials Joint Stock Company has announced the resolution of the Board of Directors as follows:
1. The Board of Directors adopted the stock issuance plan to increase chartered capital.
Purpose of the issuance:
The company will raise chartered capital from VND41,355,600,000 to VND85 billion in order to:
* Enlarge Hiep An Porcelain Factory: Capacity: 7,750 tons; Expected investment: VND39,973,000,000;
* Enlarge Hiep Luc Concrete Mixing Station: Capacity: 50,000m3; Expected investment: VND7,951,000,000.
* At the same time, to prepare for next projects:
* Move and upgrade Trai Mat Factory with the expected investment of VND15 billion;
* Invest in assembly line to process yellow kaolin in Hiep Tien Enterprise with the expected investment of VND12 billion;
* Invest in assembly line to process sand in Hiep Tien Enterprise with the expected investment of VND5 billion;
* Seek and widen areas of kaolin, bentonite, rock…with the expected investment from VND15 billion to VND20 billion;
* Research and develop new products with the expected investment of VND10 billion;
* Invest in management softwares with the expected investment of VND1 billion;
* Increase capital by about VND5 billion.
Total issuing volume: 4,364,440 shares
Volume and price issued to investors:
* Existing shareholders: 3,587,004 shares; Issuing price: VND12,000/share,
* LBM’s employees: 199,278 shares; Issuing price: VND13,000/share;
* Strategic partners: 578,158 shares; Lowest issuing price: VND17,000/share.
Issuing time: as of Quarter 4/2008
2. The Board of Directors adopted the regulations on share distribution and the list of employees who are selected to buy shares in this issuance.
3. The Board of Directors adopted the registration documents for a public offering.
4. The Board of Directors unanimously authorized the Chairperson to select strategic partners in order to offer 578,158 shares.
5. The Board of Directors adopted the regulations on the LBM’s representatives in firms.
6. The dividend advance (Stage 1/2008) will be 09% and the record date will be set by the CEO.
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