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POM: Resolution of the Board of Directors
The Board of Directors of Pomina Steel Corporation unanimously approved the plan to issue new shares to pay dividend:
* Charter capital: VND1,630,000,000,000.
* Total current share volume: 163,000,000 shares
* Stock type: Common stock
* Exercise ratio: 15%/par value (Equivalent to 100:15). Each shareholder owning 01 share will get 01 right, every 100 rights receives 15 new shares. The number of new shares will be rounded down. Fractional parts will be paid at VND10,000/share.
For example, shareholder A owning 201 shares, the number of share received before rounding down is 30.15 shares. In fact, shareholder A will get 30 new shares and VND1,500 (= 0.15 * VND10,000).
* Issue volume: 24,450,000 shares
* Financial resource to pay dividend in stock: Profit after tax according to audited consolidated financial statements at December 31, 2009.
* Charter capital after the issuance: VND1,874,500,000,000.
* Time of implementation: after the State Securities Commission adopted the dividend payment of Pomina.
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