Song Da Finance Company allowed to increase charter capital

The State Bank of Vietnam (SBV) issued Official Letter No.7068/NHNN-TTGSNH on September 17 to permit the Song Da Joint-Stock Finance Company to increase its charter capital .

Accordingly, the Song Da Company is allowed to increase its charter capital to VND 750 billion from VND 500 billion  under its recapitalization plan approved by the General Shareholders’ Meeting on April 15, 2010 and its Board of Directors on August 13, 2010.

The Song Da Company is responsible for registering and publicizing the new charter capital in line with the Vietnamese law. Additionally, the Company should send a report on the result of recapitalization with the attachment of a list of its shareholders and a copy of business registration with the new charter capital, and adjust the proportion of capital contribution by the Song Da Group in compliance with its commitment and the relevant legal texts.

The Song Da Company is required to complete all procedures for recapitalization within 12 months from the date of signing of this Document.

sbv

>   PGS: Change in purpose of using shareholders list (17/09/2010)

>   VCB: The State Bank approves VCB’s new charter capital (17/09/2010)

>   AGC: Notice of record date for a ballot (17/09/2010)

>   TCL: Resolution of the Board of Directors (17/09/2010)

>   Petrosetco: Auction Result (17/09/2010)

>   PGS: Time and Place for Extraordinary General Meeting of Shareholders (16/09/2010)

>   SDB: Board Resolution (16/09/2010)

>   PVE: Notice of record date for a ballot (16/09/2010)

>   SDB: Notice of record date for a ballot (16/09/2010)

>   Aussie bank seeks 20% stake in VIB (16/09/2010)