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CAP: Results of Annual General Meeting of Shareholders 2009
Yen Bai Agro-forestry products and Foodstuff Corporation has disclosed the results of its Annual General Meeting of Shareholders held on 22/03/2009. Participants were 130 representing 922,470 shares (accounting for 84.6% of total voting rights). The following resolutions were approved:
I. Report of Operating result of 2008 and plan in 2009:
1. Report of Opearting result of 2008
- Production: VND 84 billion / VND110 billion of plan = 76% of plan
- Revenue: VND 112 billion/VND 150 billion of plan = 75% of plan
- Profit before tax: VND 736,470,161/VND 4.5 billion of plan = 16% of plan
- Profit after tax: VND 576,145,365/ VND3.6 billion of plan = 15.5% of plan
- Payables to the State: VND 2.221 billion = 100% of plan
- Average income: VND 1,600,000/ person/ month = 106% of plan
- Dividend payment in 2008: 1.35% / month semilar 16.2%/ year = 100% of plan
- Heat only boilder with total investment of VND2.518 billion was completed in QIV/2008
- Sewage treatment project at Van Chan Paper factory with total investment of VND1.6billion was implemented from 12/2008.
2. Plan in 2009
- Production: VND 95 billion
- Revenues: VND 120 bllion
- Payables to the State: 100%
- Profit before tax: VND 2.4 billion
- Profit after tax: VND 1.9 billion
- Average income: VND 1.500.000/ person/ month
- Profit distribution plan as proposed by the Board of Directors in Plan 2009
- Apply and pay for the economic and technical normalization system
- Dividend payout ratio is 16.2%, VND50 million bonus for Manager Board if the plan in 2009 is completed.
- Investment Plan of 2009:
+ Complete projects of 2008
+ Sewage treatment project at Yen Binh Paper factory and Minh Quan Paper factory
+ Tea processing Project in Van Yen district with capacity of 05 tons per day
+ Research and implement other projects including industrial fuel alcohol production, ecotourism in Suoi Giang, building hotel and leasing offices.
- Treasury Stock: Repurchase shares, increase value of share
II. Financial statement in 2008 audited by A&C
III. Report of Supervisory Board
IV. Dividen payment in 2008 with the rate of 1.35%/ month, equalling 16.2%/ year. 6.2% of the dividend will be paid in 2009.
V. No change in the Board of Directors and Supervisory Board untill AGM 2010
VI. Mr. Tran Cong Binh, Chair of the Board, is also Manager in 2009
VII. A&C will be company’s auditor in 2009
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