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PGS: Board Resolution
PetroVietnam Southern Gas JSC announces the Board Resolution approved on 01/10/2009 as follows:
1. Operating results of the first 09 months of 2009 as follow:
- Consumption of LPG: 102,555 tons. (77.69% of the year plan)
- Consumption of gas, oil: 3,600,000 litre (133.33% of the year plan)
- Revenue: VND 1.153 bil. (71.6% of the year plan)
- Payables to the State: VND 4.76bil. (95.2% of the year plan)
- Profit before tax: VND 21.45 bil. (83.56% of the year plan)
2. Cancellation of the seasoned issue to increase Charter capital to VND265 bil.
3. Seasoned issued to increase Charter Capital from VND150 bil to VND215 bil as follows:
- Stock type: Common stock
- Par value: VND10,000
- Total number of shares issued: 6,500,000 shares
- Total value of shares issued: VND 65,000,000,000.
- Reason for seasoned issue: increase company’s financial capacity.
- Placement to employees:
* Offering volume: 750,000 shares.
* Total par value of shares issued: VND 7,500,000,000.
* Offering price: VND 10,000/share
* No transfer restriction.
- Auction through HNX:
* Offering volume: 5,750,000 shares.
* Total par value of shares issued: VND 57,500,000,000.
* Offering price: VND 20,000/share
* Expected value of shares issued: VND 115,000,000,000.
* Public offering through auction in HNX.
* No transfer restriction.
* Time of the placement: quarter IV/2009.
- Use of expected proceeds from the seasoned issue:
* Supplement funds for the deployment of CNG construction Project and LPG Dung Quat Project.
* Supplement of working capital and purchasing of additional gas case containers.
- Increase of charter capital:
* Number of outstanding shares: 15,000,000 shares
* Offering volume: 6,500,000 shares
* Stock type: common
* Total volume of shares after the seasoned issue: 21,500,000 shares.
* Charter capital after the seasoned issue: VND 215,000,000,000.
* Time for the increase of charter capital: after the Documents for increase of charter capital being improved by HCM Planning and Investment Office.
- Deposit of additional shares in Vietnam Securities Depository and Listing in HNX.
- BOD is authorized to:
* Implement necessary procedures to complete the seasoned issue, including the deposit and listing of additional shares.
* Decide the time of placement and the criteria for selection of employees entitled to buy company’s shares.
* Use of expected proceeds from the seasoned issue in compliance with stated objectives in this Resolution.
* Complete all procedures to increase company charter capital
4. Change in Supervisory Board:
- Mr. Nguyen Trong Thong has resigned from Chief of Supervisory Board with effect since 01/10/2009.
- Ms. Nguyen Thuc Quyen has assigned Chief of Supervisory Board with effect since 01/10/2009.
5. Nominate Mr. Vu Quy Hieu – Director cum Chief Accountant of PGS as Chief Supervisory Board of PetroVietnam Low Pressure Gas Distribution JSC.
hnx
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