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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