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STC: Board Resolution
Book and Educational Equipment JSC in Ho Chi Minh city announces the Board Resolution approved on 18/03/2009 as follows:
1. Operating results 2008:
- Total revenue: VND 220,961,395,738
- Profit before tax: VND 12,890,469,185
- Profit after tax: VND 11,274,553,867
- Exempted income tax (supplemented to investment and development fund): VND 2,035,899,726
- Profit allocation is as follows:
+ Setting up reserve fund: VND 461,932,707 (5%)
+ Dividend payment (73.59%): 6,798,636,000
+ Setting up bonus and welfare fund 10%: VND 923,865,414
+ Remained profit (6.41): VND 592,287,313
2. 2009 Plan:
- Revenue: VND 225 billion
- Profit before tax: VND 13 billion
- Dividend payout ratio: 12%
3. Report of proceeds from additional issuing 2008: VND 40,180,620,000 to supplement to working capital.
4. Dividend payout ratio 2008: 12% (shareholders will receive VND 1,200 for every 01 share they own)
5. Repurchase for treasury stock:
- Amount: at least VND 6 billion
- Resources: business and production development fund, share premium
- Volume of share for a repurchase: 100,000
Mr. Tu Van Son, Chairman of the Board –cum- General Manager will report the result to the Board after a repurchase and decides to fullfil the target.
6. Allowance for the Board of Directors, Supervisory Board, and Secretary 2008: VND284,000,000.
Proposal for allowance for the Board of Directors, Supervisory Board, and Secretary 2009: 3-5% of profit after tax.
7. Chairman of the Board has been authorized to changed branches into One Member Limited companies in a propriate time.
8. AAC auditing company, 217 Nguyen Van Linh – Danang, has been selected to audit the company financial statement.
hastc
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