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VTV: Results of Annual General Meeting of Shareholders 2009
Cement Materials and Transportation JSC has disclosed the results of its Annual General Meeting of Shareholders. The following resolutions were approved:
1. Report of Operating result of 2008
- Revenue: VND 1,154.9 bil.
- Profit: VND 34.22 bil.
- Payables to the State: VND 2.52 bil.
- Dividend payout ratio: 15%
2. Plan in 2009
- Revenue: VND 1,704.97 bil.
- Profit: VND 26.1 bil.
- Payables to the State: VND 6.04 bil.
- Dividend payout ratio: 10-15%
3. Report of Supervisory Board’s activities
4. Audited financial statement 2008 and profit distribution plan:
- Profit after tax: VND 24,641,499,734
- Dividend payment 2008 (15%): VND 9,557,000,000
- Profit for funds: VND 15,084,399,734
- Supplementing to charter capital fund: VND 1,232,074,987
- Financial reserve fund: VND 2,464,149,973
- Reward and welfare fund: VND 1,331,574,880
- Investment and development fund: VND 9,856,599,894
- Bonus for Management board: VND 200,000,000
- Remuneration for Management Board and Supervisory Board: VND 258,000,000
5. Payment for Board of Directors and Supervisory Board 2009: VND 360,000,000
6. Investment plan:
a) Building in Nhan Chinh: adjustment of investment value total from VND 500 bil. to VND 560 bil. In 2009, carrying out construction, consulting, management and others with total expenses of 136.89 bil.
b) Investment in shipping fleet: buying a ship the same as TINOS or better with total investment of VND 300 bil.
c) Head office building in 21b Cat Linh with total preparing expense of VND 1 bil.
d) Purchasing a car having 7 seats VND 650 mil.
7. Auditing company in 2009
- AVA auditing and accounting company
8. Amendmend of charter of the company:
9. Issue shares to increase Chater Capital 2009 -2010 from VND 65 bil. to VND 156 bil.:
- Stock type: Common stock
- Par value: VND 10,000
- Purpose: investment in head office building in Nhan Chinh
- Total volume of shares to be offered: 9,100,000 shares, equivalent to VND 91 bil. par value.
a) Stage 1: Issuing VND 45 bil. to increase charter capital from VND 65 bil. to VND 110 bil.
* Placement with outstanding shareholders:
- Offering volume: 4,500,000 shares
- Exercise rate: 13:9 (shareholders are entitled to buy 9 shares for every 13 shares they own). Number of shares will be rounded down to unit digit. Odd lot shares and undistributed shares will be placed with other subjects with no favourable conditions than with outstanding shareholders.
- Issung price and time: The board of Directors is authorised to decide reasonable price (but no less than par value) and time.
* The additional listing will be carried out once finishing the issue.
b) Stage 2: Issuing VND 46 bil. to increase charter capital from VND 110 bil. to VND 156 bil.
* Placement with outstanding shareholders:
- Offering volume: 4,600,000 shares
- Exercise rate: 55:23 (shareholders are entitled to buy 23 shares for every 55 shares they own). Number of shares will be rounded down to unit digit. Odd lot shares and undistributed shares will be placed with other subjects with no favourable conditions than with outstanding shareholders.
- Issung price and time: The board of Directors is authorised to decide reasonable price (but no less than par value) and time.
* The additional listing will be carried out once finishing the issue.
10. Reward fund for Management board 2009:
- 2% of the profit before tax.
- In case, the company exceeds 10% or over the plan, the reward will be added 5% of the excessive profit before tax.
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