|
PGS: Board Resolution
Petrovietnam Southern Gas JSC announces the Board Resolution of Quarter II/2010 approved on 27/8/2010 as follows:
1. Report of Operating result of the first 8 months of 2010
- Revenue: VND 2,033 bil (139% of planned)
- Profit before tax: VND 37,623 bil (102% of planned)
- Payment to State budget: VND 4.76 bil (89% of planned)
2. Ballot on the seasoned issue to increase Charter capital from VND 158.756 bil to VND 380 bil in 2010 as follow:
2.1 Issuance plan:
- Total volume of shares to be issued: 22,124,400 shares, in which:
a. Issue to outstanding shareholders
- Volume of shares to be issued: 15,875,600 shares
- Total par value of shares to be issued: VND 158,756,000,000
- Exercise rate: 1 : 1 (Shareholders are entitled to buy 01 new share for every 01 share they own).
- Offering price: VND 10,000 /share
- Shares unsold will be sold to prospective shareholders determined by the Board of Directors (Offering price: the average of closing price of 5 concecutive trading sessions before the record date with 20% discount, but not lower than VND 18,000/ share)
b. Issue to employees:
- Volume of shares to be issued: 793,700 shares
- Total par value of shares to be issued: VND 7,937,000,000
- Offering price: VND 10,000 /share
- No transfer restriction.
c. Private placement to strategic partners:
- Volume of shares to be issued: 5,455,100 shares
- Total par value of shares to be issued: VND 54,551,000,000
- Offering price: the average of closing price of 5 concecutive trading sessions before the record date with 20% discount, but not lower than VND 18,000/ share
- In case of unsuccessful placement:
+ If offering price is greater or equal VND 18,000/ share, BOD is authorized to adjust the offering price but not lower than VND 18,000 /share
+ If offering price is lower than VND 18,000/ share, BOD is authorized to adjust the offering price but not lower than VND 12,000 /share
3. Purpose of the issuance:
- Raise fund for the following projects: Construction of CNG station, LPG Dung quat Project, acquisition of gas case
- Supplement and restructure soure of capital to enhance capacity and competitiveness
- Capital surplus after the issuance
- Stimulate employees
4. Plan of using the proceeds
- Total expected proceeds: VND 264,884,800,000, in which:
+ Invest in LPG Dung quat: VND 30 bil
+ In CNG station: VND 60 bil
+ Provide CNG to cars of subsidiaries: VND 60 bil
+ LPG Go Dau Storage: VND 59 bil
+ Gas case acquisition: VND 30 bil
+ Supplement working capital: VND 25 bil
5. Approved on record date (9/9/2010) for Second dividend payment of 2009 (8.5% per share) and ballot on Charter capital increase from VND 158.756 bil to VND 380 bil.
hnx
|
