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SDP: Results of Annual General Meeting of Shareholders 2010
Song Da Trading and Transport JSC has disclosed the results of its Annual General Meeting of Shareholders held on 02/04/2010. The following resolutions were approved:
1. Report of Opearting result of 2009
- Revenue: VND 460,041 bil (135% of planned)
- Profit before tax: VND 15,817 bil (193% of planned)
- Dividend: 14%
- Average income: VND 3.8 mil
- Total actual invesment: VND 70,732 bil (50% of planned)
2. Plan in 2010
+ Revenue: VND 596,104
+ Profit before tax: VND 18,544
+ Dividend: 12%
+ Total invesment: VND 160.690 bil, in which:
- Investment in Vinh Thanh Residental area, Nhon Trach, Dong Nai: VND 90 bil
- Capacity improvement of machinaries and equipment: VND 36.1 bil
- Capital contribution: VND 19.8 bil
- Other investment: VND 14.79 bil
3. Audited financial statement 2008 and profit distribution plan:
+ Profit after tax: VND 13,05 bil
+ Financial reserve fund (3% of profit after tax): VND 356,095,262
+ Reward fund (5% of profit after tax): VND 652,710,686.
+ Welfare fund (10% of profit after tax): VND 1,305,421,372
+ Development Investment fund: VND 3,739,986,398
+ Dividend payment: VND 7 bil.
+ Expected date of dividend payment: Quarter II/2010, record date shall be decided later by the BOD.
4. Profit distribution plan for 2010:
+ Profit after tax: VND 15,3 bil
+ Financial reserve fund (5% of profit after tax): VND 417,240,000
+ Reward and welfare fund (10% of profit after tax): VND 1,529,880,000
+ Development Investment fund: VND 3,751,680,000
+ Dividend payment: VND 9,6 bil.
+ Expected date of dividend payout ratio: 12%
5. Development strategy for 2010 – 2015:
- Revenue: VND 700 – VND 1,200 bil /year. Annual growth rate of 10% to 12%
- Charter capital as of 2015: VND 350 bil
- Dividend payout ratio: 12-15%
- Products structure: commercial services (35%); construction (15%); financial investment (25%); transportation services (10%); industrial production and other services (15%)
6. Actitivites report of Board of Directors in 2009 and plan for 2010
7. Actitivites report of Supervisory Board in 2009, verification report of FS 2009, and plan for 2010
8. Remuneration plan for BOD and Supervisory Board plan in 2010.
9. Seasoned issue to increase charter capital to VND 150 bil, in which:
- Placement to outstanding shareholders: 4 mil shares; exercise rate: 2 : 1, offering price: VND 12,000/share.
- Private placement to strategic shareholders: 3 mil shares;
- Adjustment of transfer restriction period to strategic shareholders in the seasoned issue to increase charter capital to VND 80 bil to 6 months; to employees: 3 months.
10. Change in Head office address; Amendment of company’s charter; Supplement of business line.
11. Authorized the BOD to select Auditors for 2010, approve and decide on procedures of invesment project in pursuant to projects submitted to the AGM.
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