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STB: Sacombank cancels the plan of issuing stock
Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has announced the result of getting shareholders’ ballots and approved changes in the issue plans in 2008 and profit adjustment as follows:
1. Approving the cancellation of the following plans:
* The plan of issuing 88,976,283 shares (20% charter capital) to the existing shareholders.
* The plan of issuing 3,000,000 preferred shares to the company’s key employees.
* The plan of issuing 1,285,714 shares to foreign investors.
2. Approving the adjustment of the profit plan for the year 2008:
Profit before tax 2008 will be decreased from VND2,000 billion to VND1,500 billion. However, the dividend payment 2008 will still be from 14% to 16% a year according to the resolution of 2007 Annual Shareholders’ Meeting.
HoSE
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