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ASM: Resolution of the Board of Directors
Sao Mai Construction Corporation announced the resolution of the Board of Directors:
Article 1: The Board of Directors approved an adjustment to the share issue plan to raise the charter capital from 9,912,600 shares (VND99.126 billion) to 153,000,000 shares (VND153 billion) which was adopted by the General Meeting on April 02, 2010 by issuing another 10,407,400 shares (The expected charter capital after the issue is VND203.2 billion). The new plan is as follows:
- Issue volume: 10,407,400 shares
- Stock type: Common stock
- Par value: VND10,000/share
- Total issue value (Basing on par value): VND104,074,000,000.
- Expected issue time: Quarter 3/2010
- Objects of the issue:
1. Existing shareholders:
- Volume: 9,912,600 shares
- Issue price: VND16,000/share
- Exercise ratio: 1:1.
- Shareholders can transfer the rights to buy new shares to others but only once, or refuse to buy new shares.
2. Company’s employees:
- Volume: 494,800 shares
- Issue price: VND16,000/share
- The shares which are refused to buy by the existing shareholders or employees or odd shares (If any) will be decided by the Board of Directors.
Article 2: The Board of Directors approved the record date to ballot shareholders on the share issue:
- Record date: Expected on July 19, 2010.
- Time to ballot shareholders: Expected from July 26, 2010 to August 10, 2010.
- Content:
+ Ballot shareholders on the purpose of the adjustment in the issue plan.
+ Deposit and list the new shares after the issue.
+ Authorize the Board of Directors to fulfill related procedures.
Article 3: This resolution takes effect from July 7, 2010.
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