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LHC: Results of Annual General Meeting of Shareholders 2010
Lam Dong Investment Hydraulic Construction JSC has disclosed the results of its Annual General Meeting of Shareholders held on 25/04/2010. The following resolutions were approved:
1. Report of 2009
• Net revenue: VND 114,501,000,000
• Prime cost: VND 89,172,000,000
• Operating profit: VND 25,329,000,000
• Financial income: VND 4.147,000,000
• Financial expenses: VND 280,000,000
• Selling expenses: VND 0
• General and aministration expenses: VND 6,539,000,000
• Other income: VND 1,808,000,000
• Other expenses: VND 129,000,000
• Profit from other activities: VND 1,679,000,000
• Accounting profit before tax: VND 24,336,000,000
• Income tax payable: VND 4,229,000,000
• Net profit after tax: VND 20,108,000,000
• Earn per share: VND 10,054
2. 2009 Plan of Profit distribution
• Profit before tax: VND 24,336,614,870
• Profit after tax: VND 20,108,002,743
• Dividend payment (46.13%): VND 9,275,749,000
• Fund of Financial reserve (4.97%): VND 1,000,000,000
• Fund of Investment and Development (47.73%): VND 9,596,759,890
• Fund of Welfare and Reward (1.17%): VND 235.493.847
3. Plan of 2010
• Net income: VND 120,000,000,000
• Profit before tax: VND 20,000,000,000
• Dividend payment (based on old Charter capital) (%): 24.5
• Asset investment: VND 10,150,000,000
• Asset amotization: VND 7,800,000,000
• Financial investment
- Based on old Charter Capital: VND 30,000,000,000
- Based on new Charter Capital: VND 50,000,000,000
4. Payment for BOD and Supervisory Board of 2009: VND 488,340,000
5. Payment for BOD and Supervisory Board of 2010: 3%/ income of indirect unit (Based on 9th General mandate dated 21/01/2009) and 5% profit of stock trading.
6. Electing Mr. Le Dinh Hien to be Chair of the Board – cum – Executive Manager
7. Choosing audition company for 2010: Assigned BOD choose 1 of 3 audition companies.
8. Changing Company Charter of organization and operation:
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Article 5 - Item 1: Charter Capital of Company is VND 10,000,000,000. Volume of Charter Capital split-ups into 1,000,000 shares with value per share is VND 10,000/share.
Article 24 - Item 3: Condition of introduction and candidature for a position of Director: being shareholder owns at least 0.5% total of common stocks; having specialization and experience of business management or trading. |
Article 5 - Item 1: Charter Capital of Company is VND 20,000,000,000. Volume of Charter Capital split-ups into 2,000,000 shares with value per share is VND 10,000/share.
Article 24 - Item 3: Condition of introduction and candidature for a position of Director: having specialization and experience of business management or trading. |
9. Repealing the rule of minimum sharehodings applies for job titles.
10. Issuing plan of increase in Charter Capital: From VND bil. 20 to VND bil. 40 or 50
• Rewarding 1,000,000 shares from surplus of Capital for shareholders with the issuing rate: 2:1 (Shareholders are entiled to buy 1 new share for every 2 shares they own)
• Issuing 100,000 priority shares for employees with price: VND 25,000 per share. Assigning BOD approve the List of employees.
• Remained shares issuing for stragegy shareholders and bidding with min price: VND 30,000 per share.
The time for bidding and issuning for employees is after issuing for outstanding shareholders.
BOD assigned to choose the time and stragegy shareholders.
hnx
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