SJE: Results of Annual General Meeting of Shareholders 2009
Song Da No. 11 JSC has disclosed the results of its Annual General Meeting of Shareholders held on 24/4/2009. The following resolutions were approved:
1. Operating results of 2008
- Investment in fixed assets : VND 41,516,000,000
- Production : VND 389,227,000,000
- Total revenue : VND 329,173,894,069
- Profit before tax 2008 : VND 23,311,998,371
- Corporate income tax : VND 3,228,679,772
- Profit after tax : VND 20,083,318,599
- Dividend : 16%
2. Audited financial statement 2008
- Total assets : VND 363,979,261,708
- Current assets : VND 231,744,713,895
- Fixed assets : VND 132,234,547,813
- Liabilities : VND 251,775,412,007
- Owner’s equity : VND 112,203,849,701
- Total revenue : VND 329,173,894,069
- Profit before tax : VND 23,311,998,371
3. Profit distribution 2008
- Profit after tax : VND 20,083,318,599
+ Financial reserve ( 5%) : VND 1,004,165,930
+Bonus to the management board : VND 200,000,000
+ Investment and Development Fund : VND 8,870,820,809
+ Reward and welfare fund(10%) : VND 2,008,331,860
- Dividend payment 16% : VND 8,000,000,000
(First dividend of 10% was paid in January 2009, the remained 6% will be paid in the upcoming time)
4. Investment Plan for 2009
Total investment: VND 66.917.000.000
5. Remuneration for the Board of Directors and Supervisory Board in 2009:
* In case the plan 2009 is achieved:
Chair of the Board : VND 5,000,000/month
Director : VND 4,000,000/month
Chief of Supervisory Board : VND 4,000,000/month
Member of Supervisory Board : VND 2,000,000/month
* When the plan is not achieved, remuneration will be correspondent to the percentage of the achievement.
* When the achievement is over the plan, the management board, BOD, Supervisory Board can get bonus of less than 40% of the surplus but not over VND 500 million.
6. Reports of BOD and Supervisory Board
7. Plan of 2009:
- Investment : VND 66,917,000,000
- Production : VND 330,000,000,000
- Profit : VND 20,500,000,000
- Charter capital : : VND 50,000,000,000
- Expected dividend payout ratio : 16%.
8. Amendment of the Company’s Charter.
9. The BOD and Supervisory Board are assigned to choose auditor for 2009.
10. Method to evaluate the Southern Branch of Song Da No. 11 JSC to contribute capital into Song Da No. 11 Urban JSC
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