SDU: Results of Annual General Meeting of Shareholders 2010

Song Da Urban Investment Construction and Development JSC has disclosed the results of its Annual General Meeting of Shareholders held on 28/4/2010. The following resolutions were approved:

1. Report of Operating result of 2009

- Total investment: VND 374 bil

- Revenue: VND 219.719 bil

- Profit before tax: VND 62.621 bil

- Payment to State budget: VND 87.7 bil

- Dividend payout ratio: 20%

2. Plan in 2010

- Total investment: VND 610.500 bil

- Revenue: VND 450 bil

- Profit before tax: VND 100 bil

- Payment to State budget: VND 115 bil

- Dividend payout ratio: 20%

3. Audited financial statement 2009 and profit distribution plan:

+ Charter capital supplement fund: VND 2,590,000,000

+ Dividend payment (20% by cash):  VND 20,000,000,000

+ Financial reserve fund (5% of profit after tax): VND 2,590,000,000

+ Development Investment fund: VND 16,645,875,956

+ Reward and welfare fund: VND 10,000,000,000

4. Assigning the Board of Directors to choose auditor for auditing the Company’s 2010 financial statement

5. Payment for Board of Directors and Supervisory Board in 2009 and plan for 2010

6. Charter capital increase from VND 100 bil to VND 200 bil as follow:

- Total volume of shares to be issued: 10,000,000 shares

- Total par value of shares to be issued: VND 100 bil

- Exercise date: decided by the BOD

- Subject of the issuance: Outstanding shareholders name in registered list at record date for share purchase rights.

- Offering price: VND 20,000 /share

- Exercise rate: 1 : 1

- The number of shares shareholder can buy is rounded 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

7. Corporate bond issuance in 2010 to increase working capital. Authoried the BOD to build up issuance plan.

8. Activities report of the BOD in 2009 and plan for 2010

9. Activities report of the Supervisory Board in 2009 and plan for 2010

10. Amendment of the company’s charter in 2010

11. Change in BOD:

-  Mr. Tran Van Tuan has resigned from Director

- Mr. Hoang Van Anh has been appointed Chair of the Board- hold concurrently General Manager

- Mr. Nguyen Van Thanh has been appointed Director in place of Mr. Tuan

hnx

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