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SDY: Results of Annual General Meeting of Shareholders 2010
Song Da Yaly Cement JSC has disclosed the results of its Annual General Meeting of Shareholders held on 14/4/2010. The following resolutions were approved:
1. Report of Opearting result of 2009
- Revenue: VND 213,130 bil
- Profit before tax: VND 4,608 bil
- Profit after tax: VND 3,342 bil
- Dividend payout ratio: 10%
2. Plan for 2010
+ Revenue: VND 244,013 bil
+ Profit before tax: VND 10,000 bil
+ Profit after tax: VND 7,708 bil
+ Dividend payment: 10%
3. Report of Supervisory Board’s activities
4. Profit distribution plan:
+ Dividend payment 2009: VND 1,5 bil
+ Financial reserve fund (5% of profit after tax): VND 1 67,108,734
+ Development Investment Fund (21.143%): VND 706,631,005
+ Reward and welfare fund (20% of profit after tax): VND 668,434,935
+ Remuneration for Management Board and Supervisory Board: VND 300 mil
+ Dividend : 10%
5. Payment for Board of Directors and Supervisory Board 2009 and plan for 2010
6. Auditing company in 2009
The General Meeting of Shareholders assigned the Board of Directors and Supervisory Board to choose the auditing company approved by the SSC
7. Seasoned issue to increase Charter capital and Investment plan in 2010:
7.1 Seasoned issue:
- Total volume of share to be issued: 3,000,000 shares
- Par value: VND 10,000 /share
- Subject of the issuance: Outstanding shareholders named in registered list of record date.
- Exercise rate: 1 : 2 (Shareholders are entitled to buy 02 new shares for every 01 share they owned). Number of shares issued is round down to unit digit. The odd shares and shares unsold will be determined by the Board of Directors in terms of price and subject of the offering.
- Offering price: VND 10,000 /share
- Stock type: no transfer restriction
- Plan of using proceeds:
+ Improve transportation capacity: VND 16.5 bil
+ Investment in construction rock-crushing plant: VND 1 bil
+ Investment in adobe brick chain: VND 0.5 bil
+ Increase working capital: VND 12 bil
- Depository and Listing of newly issued share after complete the seasoned issue.
- Record date, exercise date, registration and settlement time shall be decided by the BOD.
- Change of charter capital item in the company’s charter in pursuant to results of the issuance.
7.2 Investment plan in 2010:
- Total investment value in 2010: VND 18 bil
8. Amendment of the company’s Charter:
- Supplement of business line: Real estate investment and finance investment
9. Change in the Supervisory Board and BOD:
Mr. Khuong Duc Dung has been appointed Director. Mr. Pham Van Dung and Mr. Ngo Minh Tuan have resigned from Director.
Mr. Khuong Duc Dung and Mr. Le Gia Loc Son have resigned from Member of Superviosry Board. Mr. Le Dinh Manh and Mr. Nguyen Van Duc have been appointed Member of Supervisory Board.
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