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PPC: BOD Resolution No.45
After considering, the Board of Directors of Pha Lai Thermal Power Joint-Stock Company (HoSE: PPC) approved the propose of Hai Phong Thermal Power Joint-Stock Company as follows:
1. Allow the Vietnam Electricity (EVN) to decrease the contribution rate in the charter capital of Hai Phong Thermal Power from 54.2% to 51% (Equivalent to VND160 billion), and Vietnam National Coal - Mineral Industries Group (Now is Vinacomin - Power Holding Corporation Limited, Abbreviated name: TKV) decreases the rate from 10% to 7.2% (Equivalent to VND139.5 billion).
2. Offer price: VND11,931/share (Applied at March 31, 2010):
* Phase 1: Investors contribute an amount equal to a rate of the contributed capital to the capital registered to contribute of the existing shareholders, at a price not more than VND11.931/share.
* Phase 2: After contributing capital, the investors will have duties and rights like the existing shareholders’ with value of a share equal to VND10,000/share.
3. Plan of mobilizing capital:
Authorizing the Board of Directors of Hai Phong Thermal Power Joint-Stock Company - to manage the capital mobilization in order to reduce the contribution rate of EVN and TKV (VND299.5 billion).
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