BBC: Explanation for share splitting

BIBICA Corporation (BBC: BIBICA) has explained the unofficial information of share splitting with ratio 2:1 as follows:

1.  Investment capital was deployed for Bibica Mien Dong in the second stage:

* According to the 2009 Shareholders’ Meeting, the project of Bibica Mien Dong is in the second stage and total investment capital is VND300 billion;

* The project is deployed in the end of stage of building workshops and installing machines. Expected time to start operations is the end 2009.

* The capital of the project received from 25% of preferred loan and 75% own capital. Until now, the company balanced the capital.

2.  The share splitting:

Bibica used the capital sources from the previous issuances and share premiums to focus on the above project. Therefore, the BOD of Bibica has not planned to approve the share splitting.

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