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LUT: Board Resolution and Results of Annual General Meeting of Shareholders 2009
Luong Tai Construction JSC has disclosed the results of its Board Resolution and Annual General Meeting of Shareholders held on 28/03/2009.
A. Board Resolution:
1. Dividend payment 2008:
- Excersice rate: 7.32% (shareholder receive VND 732 for every share they own)
- Expected excersice date: 13/5/2009
B. Result of Annual General Meeting of Shareholders 2009:
The following resolutions were approved:
1. Report of Opearting result of 2008, profit distribution plan 2008 and plan in 2009
* 2008:
- Profit before tax: VND 7,522,313,087
- Tax: VND 2,106,247,664
- Profit after tax: VND 5,416,065,423
- Dividend payment: VND 4,062,049,067
- Set up funds: VND 1,354,016,356
* Plan in 2009:
- Total revenue: VND 120,000,000,000
- Total Expense : VND 110,000,000,000
- Profit before tax: VND 10,000,000,000
2. Plan to increase Charter Capital from VND 55 billion to VND 100 billion by season issue
3. Plan to use the resouce from season issue:
- Build Lutaco Tower at 173ª, Nguyen Van Troi Street, Phu Nhuan District
- Invest in Dai Nga Hydropower Factory in Lam Dong
- Carry out the compensation for Loc An Xanh Resort
- Increase working capital
4. Develop and strategy target in 2009;
I. Infarastructure Construction plan
Complete :
+ Cau Gie high way plan
+ Upgrade high way 280 Bac Ninh
+ Road connecting high way 51 with Cai Mep Dock – Thi Vai
Join biddings in 2009:
+ Hanoi- Lao Cai Highway
+ Hanoi - Thai Nguyen Highway
+ Hanoi – Hai Phong Highway
+ Hochiminh – Long Thanh – Dau Giay Highway
+ DT 285 Bac Ninh plan
II. Investment plans:
+ Lutaco Tower
+ Dai Nga Hydropower Factory in Lam Dong
+ Get certificate to invest in Loc An Xanh Resort
+ Prepare to invest in Luong Tai Industry and Compensation
+ Complete documents to invest in Kim Dinh Area
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