Thursday, 30/09/2010 11:45

TDH: BOD Resolution on profit expectation

Thu Duc Housing Development Corporation (HoSE: TDH) announced the resolution of the Board of Directors:

Article 1: The Board of Directors considered and analyzed current financial figures and plan for the next three years:

- Book value of TDH stock at June 30, 2010: VND32,700/share

- Revenue and profit plan in the next three years:

 

2010

2011

2012

2013

Net revenue

453,204

580,158

1,148,672

2,500,398

Profit after tax

193,730

247,136

260,341

410,752

- With figures about the Company’s current financial ability as well as profitable ability, the current market price of TDH stock of VND36,500/share (September 15, 2010) has not showed real value of the Company. In order to ensure shareholders’ benefit, the Board of Directors, therefore, decided to supplement a condition on the conversion price to major shareholders in the second phase as follows:

- The conversion price of bonds in the second phase at the conversion time will be lower than 130% of the conversion price of bonds in the first phase and not lower than VND36,000/share.

Article 2: This resolution takes effect from September 17, 2010.

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