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SED: Results of Annual General Meeting of Shareholders 2010
Phuong Nam Education Investment and Development JSC has disclosed the results of its Annual General Meeting of Shareholders held on 9/4/2010. The following resolutions were approved:
1. Operating result of 2009 and profit distribution plan:
+ Financial reserve fund: VND 777,549,446
+ Development Investment Fund: VND 1,576,608,892
+ Reward and welfare fund: VND 1,555,098,892
+ Bonus to Management Board: VND 777,549,446
+ Dividend payout ratio: 17%
2. Plan in 2010
+ Revenue: VND 196 bil
+ Profit before tax: VND 27 bil
+ Financial reserve fund: 5%
+ Development Investment Fund: 5%
+ Reward and welfare fund: 10%
+ Bonus to Management Board: 5%
+ Dividend payout ratio: 18%
3. Activities Report of Supervisory Board
4. Change in the BOD: Mr. Vu Ba Hoa has resigned from Director. Ms. Hoang Minh Tam has been appointed Director.
5. Charter capital increase to VND 160 bil to increase working capital and invest in profitable projects.
6. Amendment of the company’s charter in pursuant to standard charter of listed companies.
7. Conversion of types of stocks held by founding shareholders: from transfer restriction stocks to no transfer restriction stocks to founding shareholders. For founding shareholders are BOD, Manangement Board and Supervisory Board, convert 50% of transfer restriction stocks to no transfer restriction stocks. Starting time of the conversion: 9/5/2010.
8. Select AAC to audit the company’s FS in 2010.
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