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YSC: Results of Annual General Meeting of Shareholders 2009
Hapaco Yenson JSC has disclosed the results of its Annual General Meeting of Shareholders held on 26/4/2009. Participants were 67 representing 625,700 shares (accounting for 85.71% of total voting rights).The following resolutions were approved:
1. Operating results of 2008
- Revenue : VND 51,472,596,000 (revenue from export: USD 1,788,800)
- Production : 6,116.924 tons (3,600 tons for export)
- Payables to the State : VND 769, 654,000
- Average income : VND 1,758,000/person/month
- Charter capital : VND 7,300,000,000
- Owner’s equity : VND 15,854,463,000
- Profit after tax : VND 3,762,963,000
- Earnings per share : VND 5,229
2. Plan 2009
2.1. Main targets:
- Revenue : VND 55 billion
- Production : 6,200 tons
- Payables to the State : To be completed
- Average income : VND 1,850,000/person/month
- Profit after tax : VND 3,700,000,000
- Dividend : 12% - 15%
2.2. Seasoned issue of 2,000,000 shares for 2 years 2009 – 2010 to increase charter capital, raise fund for projects; application for depository of additional shares.
2.3. Supplement business lines
3. Investment 2009
- Invest into the Taxi Center – Phase 2, increase number of cars, build large garage, and Car Maintenance center.
- Invest in real estate, finance
- Implement the Export wood processing Factory or Mineral, Forest product Processing and Exploiting Project in place of Paper pulp Factory project.
- Total investment: VND 185 billion
4. Reports from the Supervisory Board
5. Profit distribution:
- Retained earnings as of 31/12/2009 : VND 3,774,585,613
- First dividend payment of 2008 (12%) in cash (already paid) : VND 863,604,000
- Second dividend payment of 2008 (6%) in cash (to be paid in 2009) : VND 653,802,000
- Financial reserve : VND 377,458,561
- Bonus to the management board : VND 169,856,000
- Investment and Development Fund : VND 1,509,834,245
- Reward and welfare fund : VND 200,030,807
6. Nam Viet Auditing & Accounting Financial Consulting Co., Ltd. is selected as auditor for the Company in 2009.
7. Remuneration for the Board of Directors and Supervisory Board:
* 2008: VND 388,340,000
* 2009: VND 30,000,000/month
8. Amendment of the Company’s Charter relating to charter capital (from VND 7.3 billion to VND 11 billion)
9. Mr. Pham van Quyen has resigned from Director and Mr. Tong Xuan Luong has resign from Member of Supervisory Board.
10. The BOD is assigned to approve projects with value less than VND 20 billion. The Manager is assigned to approve projects with value less than VND 5 billion. All these projects must be reported to the next General Meeting of Shareholders.
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