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SDU: Results of Annual General Meeting of Shareholders 2010
Song Da Urban Investment Construction and Development JSC has disclosed the Supplemented General manadate dated 7/5/2010 in place of 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. Financial statement 2009 audited by ASNAF Vietnam:
- Total assets: VND 317,014,986,183
+ Short term assets: VND 92,603,581,193
+ Long term assets: VND 224,411,404,990
- Total equity: VND 317,014,986,183
+ Liabilities: VND 179,064,229,334
+ Owners’ equity: VND 137,950,756,849
4. Profit distribution plan for 2009:
+ 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
5. Assigning the Board of Directors to choose auditor for auditing the Company’s 2010 financial statement
6. Payment for Board of Directors and Supervisory Board in 2009 and plan for 2010
- In 2009: VND 510 mil
- In 2010: VND 720 mil
7. Charter capital increase from VND 100 bil to VND 200 bil in 2010 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
- The owner of share purchase rights can transfer his rights once to another person through negotiation, The rights transferred can not be transferred to the third party.
- Plan of using the proceeds: invest in the following projects:
+ Song Da Urban housing project in 143 Tran Phu Street, Ha Dong, Hanoi: VND 616,312,272,000. Disbursement in 2010: VND 57,397,000,000, in which fund from the seasoned issue is VND 30 bil and borrowed fund: VND 27,397,000,000
+ Residental and commercial office building in 25 Tan Mai, Hanoi: VND 163,305,241,000. Disbursement in 2010: VND 57,464,000,000, in which fund from the seasoned issue is VND 30 bil and borrowed fund: VND 27,464,000,000
+ Nam An Khanh Metropolitan Project: VND 396,733,748,000. Disbursement in 2010: VND 220,356,000,000, in which fund from the seasoned issue is VND 140 bil and borrowed fund: VND 80,356,000,000
8. Depository and additional listing of newly issued shares in HNX.
9. Corporate bond issuance in 2010 to increase working capital. Authoried the BOD to build up issuance plan.
10. Activities report of the BOD in 2009 and plan for 2010
11. Activities report of the Supervisory Board in 2009 and plan for 2010
12. Amendment of the company’s charter
13. 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
14. Change of representative of founding shareholder – Song Da Holdings - in the company’s Business Registration Certificate:
- Mr. Tran Van Tuan has been replaced by Mr. Nguyen Van Thanh.
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