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SHI: Resolution of the BOD
Son Ha International Corporation has informed of the resolution of the BOD under its Announcement No. 03/2010/NQ-HDQT dated 9th August 2010 as follows:
Article 1: Approving amending some issues relating to additional bond issuance:
* Adjusted issuing bond name: SHI082010
* Issuing method: Private placement under the Decree No.52/2006 of the Prime Minister dated 19th May 2006 about corporate bond issuance
* Bond type: Corporate bond with obligation of principal and interest payment insured by assets of the third party.
* Interest rate: fixed rate at 16%/year in the first year, floating rate from the second year onwards. Interest rate is adjusted every 6 months and identified through 12-month deposit interest rate (In VND) of the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) at the date of identifying interest rate plus the range of 5%/year.
* Purpose of issuance: Supplementing capital to implement the project of producing un-rusty steel pipe and industrial Inox steel pipe in the Phung-Dan Phuong Industrial zone, Hanoi.
Article 2: Approving using asset to ensure the issuance of SHI082010 bond
* Using asset as shares issued by the company and owned by its shareholders to ensure the principal and interest payment of SHI082010 bond
* Authorizing the Management Board and shareholders of the company to implement related procedures as stipulated.
Article 3: Approving using earnings from business operation and other income to support the principal and interest payment of SHI082010 bond.
Article 4: The resolution is effective from 9th August 2010.
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