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RCL: Results of Annual General Meeting of Shareholders 2010
CHOLON Real Estate JSC has disclosed the results of its Annual General Meeting of Shareholders held on 21/4/2010. The following resolutions were approved:
1. Report of Operating result of 2009
- Revenue: VND 148,220 mil
- Profit before tax: VND 61,746 mil
- Profit after tax: VND 55,437 mil
- Dividend payout ratio: 32%
2. Plan in 2010
- Revenue: VND 153,250 mil
- Profit before tax: VND 40,000 mil
- Profit after tax: VND 30,000 mil
- Dividend payout ratio: 25%
3. Audited financial statement 2009
4. Report of the Supervisory Board on verification of final accounts of 2009
5. Amendment of the company’s charter
6. Profit distribution plan for 2009
+ Remuneration to BOD, Supervisory Board: VND 396 mil
+ Operational cost and reward to Management board: VND 1,100,830,000
+ Charter capital supplement fund: VND 2,752,074,000
+ Dividend payment: VND 8,000,000,000
+ Financial reserve fund : VND 2,752,074,000
+ Development Investment fund: VND 31,378,205,985
+ Reward and welfare fund: VND 5,504,148,000
+ Reward for eccessive profit: VND 3,554,148,000
7. Profit distribution plan for 2010
+ Remuneration to BOD, Supervisory Board: VND 648 mil
+ Operational cost and reward to Management board: VND 587 mil
+ Charter capital supplement fund: VND 1,467,600,000
+ Dividend payment: VND 11,250,000,000
+ Financial reserve fund : VND 1,467,600,000
+ Development Investment fund: VND 10,177,000,000
+ Reward and welfare fund: VND 4,402,800,000
+ Reward for eccessive profit: 10% of eccessive profit after tax
8. Dividend payment of 2009 of 32%/ charter capital:
- First dividend payment (paid): 20% by share
- Second dividend payment by cash: 12% / charter capital. Exercise date: 5/5/2010
9. Assigning the Board of Directors to choose one of the following auditors for auditing the Company’s 2010 financial statement:
- Auditing and Informatic Service Company
- Auditing and Accounting Financial Consultancy Service Company Limited
- Vietland Auditing and Consulting Company limited
10. Authorized the BOD to change the contents of Business registration Certificate.
11. Charter capital increase from VND 30 bil to VND 60 bil as follow:
- Total volume of shares to be issued: 3,000,000 shares
- Phase 1: Bonus share issued to outstanding shareholders:
+ Exercise rate: 2 :1
+ Volume of share issued: 1,500,000 shares
+ Number of share issued is round down to unit digit.
+ Charter capital after Phase 1: VND 45 bil
+ Exercise date: Quarter 3/ 2010
- Phase 2: Seasoned issue to outstanding shareholders:
+ Exercise rate: 2 :1
+ Volume of share issued: 1,500,000 shares
+ Number of share issued is round down to unit digit.
+ Offering price: decided by the BOD
+ Charter capital after Phase 1: VND 60 bil
+ Exercise date: Quarter 4/ 2010 to quarter 1/2011.
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