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MCO: Results of Annual General Meeting of Shareholders 2010
MCO Vietnam JSC has disclosed the results of its Annual General Meeting of Shareholders held on 16/7/2010. The following resolutions were approved:
1. Report of Operating result of 2009
- Revenue: VND 257,246,452,263
- Profit before tax: VND 7,017,651,980
- Profit after tax: VND 5,433,829,080
2. Plan in 2010
- Revenue: VND 240,000,000,000
- Profit after tax: VND 9,000,000,000
- Expected dividend payout ratio by cash: 20%
3. Agreed on Audited financial statement 2009.
4. Agreed on dividend payment of 2009 by cash (10%)
5. Agreed on Supervisory report 2009 and Supervisory plan for 2010 of Supervisory Board.
6. Agreed on the Dissolution of Construction unit No.2
7. Agreed on the capital contribution with T&T Group JSC, Vietnam Securities Investment JSC to establish a joint stock company as follow:
- Company name: T&T-MCK Housing and Urban Investment and Development JSC
- Charter capital: VND 10 bil (MCO contributes 25%)
8. Agreed on seasoned issue plan for outstanding shareholders to increase charter capital from VND 41.039 bil to VND 84.078 bil as follow:
- Total volume of shares to be issued: 4,303,900 shares
- Par value: VND 10,000/ share
- Expected Exercise date: Quarter IV/2010
- Subject of the issuance: outstanding shareholders and MCO’s employees.
+ Issue 4,103,900 shares to outstanding shareholders of MCO at exercise rate of 1: 1, offering price: VND 10,000/ share
+ Issue 200,000 shares to MCO’s employees at VND 10,000/ share
- 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
- Total volume of share outstanding after the issuance: 8,407,800 shares
- New charter capital: VND 84,078,000,000
- Agreed on the depository and listing of additional shares in HNX.
- Plan of using the proceeds:
+ Investment in Xoong Con Hydroelectric power in Tuong Duong, Nghe An: VND 20 bil
+ Investment in new residental building in Yen Hoa, Vinh City, Nghe An: VND 23.039 bil
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