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SDD: Results of Annual General Meeting of Shareholders 2009
Song Da Assembly Construction & Investment JSC has disclosed the results of its Annual General Meeting of Shareholders 2009. The following resolutions were approved:
1. Report of Operating result of 2008
- Total output: VND 31.403 bil
- Revenue: VND 19.217 bil.
- Profit before tax: VND 2.793 bil.
- Profit after tax: VND 2.046 bil.
- Dividend payout and bonus share ratio (10 %): 3% in cash (1 share will get paid VND 300) and 7% by share from share premium 2007 (1 share will get paid 0.07 new share)
2. Plan in 2009
- Total output: VND 100.7 bil
- Revenue: VND 55 bil.
- Profit before tax: VND 5.5 bil.
- Profit after tax: VND 4.125 bil.
- Dividend payout ratio: 10-12%
3. Report of Supervisory Board’s activities
4. Investment plan 2009:
- Investment in small hydropower project: Tat Ngoang 7MW, Muong Sang 2: 4.8MW, Chan Thinh: 12MW, Long Tao: 48MW
5. Audited financial statement 2008 and profit distribution plan:
- Retained profit after tax 2008: VND 2,046,542,865
- Investment and Development Fund: VND 102,327,143
- Financial reserve fund: VND 102,327,143
- Reward and welfare fund: VND 204,654,286
- Dividend payment 2008 (3%): VND 1,204,500,000
- Remuneration for Management Board and Supervisory Board: VND 99,236,000
- Retained earning: VND 333,498,293
6. Payment for Board of Directors and Supervisory Board 2009: VND 165,600,000
7. Auditing company in 2009
- The General Meeting of Shareholders assigned the Board of Directors to choose the auditing company approved by the SSC
8. Issuing shares to increase Chater Capital from VND 40.15 bil. to VND 70 bil.:
- Total volume of shares to be issued in 2009: 2,985,000 shares (VND 29,850,000,000) in which:
* Dividend payment by share to outstanding shareholders from share premium 2007 7% of the charter capital: VND 2,810,500,000
* Private placement with strategic shareholder: VND 5,614,000,000
- Number of strategic shareholders: less than 100
- Price: at least 60% of the market price at the offering time, however no less than VND 10,000/share
- Stock type: common stock under transfer restriction. Restriction duration: 6 months
* Private placement with the staff: VND 1,350,500,000
- Employees with long term labour contract who are not outstanding shareholders of the company at the record date.
- Price: no less than VND 10,000/share
* Placement with outstanding shareholders: VND 20,075,000,000
- Exercise rate: 1:0.5 (1 share is entitled to buy 0.5 new share)
Odd lot shares and undistributed shares will be placed with other subjects with no easier condition than with outstanding shareholders.
2,703,950 shares (placed with outstanding, staff and strategic shareholder) would not be listed additionally on HASTC until Tat Ngoang and Muong Sang 2 hydropower projects are completed. Every year, the company calculates interest (same as bank interest) for the capital shareholders raised, and pays the acumulated interest once the project are completed and settled the investment capital in accordance with the law.
AGM assigned the Board of Directors to carry out the charter capital increasing plan and process the additional listing of 281,050 shares on HASTC.
Using plan of the proceed: response capital to the bank loan for the two projects.
Increase the charter capital to ensure response capital to the bank loan for Chan Thinh and Long Tao hydropower projects.
9. Board of Directors:
- Mr. Pham Manh Toi
- Mr. Dinh Van Nhan
- Mr. Luu Van An
- Mr. Le Quang Dai
- Mr. Bui Huu Han
10. Supervisory Board:
- Mr. Nguyen Le Toan
- Ms. Vu Thi Thanh Tam
- Ms. Pham Thi Binh
hastc
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