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S96: Explanation for consecutive ceiling-hitting sessions (2nd)
On 09/10/2009, Song Da No 9.06 JSC explained the stock ceiling hitting for 11 consecutive sessions from 25/09/2009 to 09/10/2009 as follows:
- S96 is an enterprise with many years of working in the field of construction and erection business. Production and business performance of the S96 is stable and well-developed.
o Construction and erection: the Company participated in the construction of: Canal bank of Dan Hoai- Dan Phuong, Best Western Da Lat Plaza Hotel, lecture room and laboratory of Coal and Mining University, etc.
o Projects: Nam Xay Noi 2 hydroelectric power, Hong Thai Urban Area, Song Da – Binh Tan Urban area, etc.
- On 22/09/2009, S96 asked for a ballot of General meetings of shareholders on:
o First dividend payment of 2009 with the exercise rate of 13%.
o Increase of charter capital from VND25 billion to VND100 billion (offering price: VND10,000 /share).
o Development plan for the period 2010 – 2015.
o Establishment of subsidiary company named Song Da Dong Do JSC, where S96 holds at least 51% of charter capital.
- For a long period, price of S96 has continuously fallen from VND118,000 / share to VND10,800 / share. Along with the upward trend of Vietnam stock market, investors acknowledged of the positive development of S96, which is the reason for the consecutive ceiling-hitting sessions of S96 price.
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