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VE1: Results of Annual General Meeting of Shareholders 2009
VNECO 1 Electricity Construction JSC has disclosed the results of its Annual General Meeting of Shareholders held on 14/03/2009. Participants were 38 representing 2,047,046 shares (accounting for 68.23% of charter capital).The following resolutions were approved:
1. Amendment, supplementing of articles of the charter capital as follows:
Article 17: Summons the shareholders’ meetings, meeting schedule, and notice
5. Person who summons the meeting has rights to refuse proposals relating to Clause 4 Article 17 in the following circumstances:
b. At the moment of bringing forward the proposal, shareholder or group of shareholders fail to own at least 5% common shares during six consecutive months at least;
Article 24. Members of the Board and their tenure
3. Those shareholders who hold a minimum of 5% of the suffraged shares in a continuous period of at least 6 months may add up their suffraged shares to vote and nominate the Board’s members. Shareholder or groups of shareholders who hold less than 10% of the suffraged shares in a continuous period of at least 6 months may nominate one Board member; those who hold from 10% to less than 30% of the suffraged shares may nominate two members; those who hold from 30% to less than 50% of the suffraged shares may nominate three members; those who hold from 50% to less than 65% of the suffraged shares may nominate four members and those who hold more than 65% of the suffraged shares may nominate the full members of the Board.
Article 36. Members of the controlling unit
2. Shareholders who keep less than 10% of the stock have rights to vote for a consecutive time of at least 6 months and gather votes to nominate candidates for the Controlling unit. Shareholders or group of shareholders who keep less than 10% of share have rights to vote for a consecutive time of at least 6 months to nominate a member; from 10% to less than 30% of share have rights to nominate two members; from 30% to less than 50% have rights to nominate three members; from 50% to less than 65% have rights to nominate four members and over 65% have rights to nominate full number of candidates
2. Approve these reports:
Operating results of 2008 and 2009 plan
Financial statement 2008, Dividend payout ratio, setting up funds
Report from Supervisory Board
AISC informatic service and auditing company, Hanoi branch has been selected for auditing the Company’s financial statement.
3. Managerment changes:
Tran Dinh Diep and Mr. Phan Duc Vinh have been voted for directors in place of Mr. Hoang Van Tho and Mr. Vu Danh Khanh.
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