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KLS: Board Resolution
Kim Long Securities Corporation announces the Board Resolution approved on 10/09/2009 as follows:
Approve seasoned issue bonus shares and private placement to increase Charter Capital
1. Phase I: Bonus shares issue for outstanding shareholders:
- Stock type: Common stock
- Par value: VND 10,000
- Volume of shares to be issued: 23,100,000 shares
- Value of shares to be issued: VND 231,000,000,000
- Resources used for bonus share issue: paid-in capital from Private placement in April 2007 and the Public Offering in April 2008
- Subject of the issue: outstanding shareholders
- Issue Method: Rights allotment and rights cannot be transferred
- Exercise rate: 100: 35 (shareholders will receive 35 new shares for every 100 shares they own)
- With the odd shares: Number of bonus shares received is rounded down to unit digit. The odd shares (if available) will be added to private placement in Phase II.
- Register for listing on HNX and depository of additional shares on Vietnam Securities Depository
- Expected exercise time: QIV/2009
2. Phase II: Private placement:
- Stock type: Common stock
- Par value: VND 10,000
- Volume of shares to be issued: 10,900,000 shares
- Method: private placement (for under 100 investors)
- Price: The Board of Directors will decide the price but not less than 80% of price of KLS at same time on the stock market.
- Subject: The board of Directors will decide investors following some criteria as bellow:
+ Investors who show goodwill during the negotiation with financial capacity and commit full settlement;
+ Investors with appropriate strategies and organizational culture without conflicts with the development strategies of KLS;
+ Others criteria will be decided by the Board of Directors based on reality, ensuring the benefits of investors and the Company.
- Plan to use the proceeds:
+ Improve financial capacity
+ Invest in business lines of company
+ Invest in other activities in the future
- With the odd shares: shares unsold will be offered to other investors. After private placement has finished, the odd shares will be considered as not yet been issued and the Board of Directors will decrease the total shares issued in private placement according to the fact.
- Register for listing on HNX and depository of additional shares on Vietnam Securities Depository
- Expected exercise time: from QIV/2009 to QI/2010
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