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HMC: HMC invests in a joint-venture company
On September 01, 2010, the Board of Directors of Hochiminh City Metal Corporation held a meeting and discussed a capital contribution to Lavenue Investment Joint Stock Company (HoSE: HMC):
After discussing, the Board of Directors unanimously approved to issue Resolution No. 23/NQ-HDQT dated September 01, 2010, with the following content:
* Contributing VND12,500,000,000 (12.5% of charter capital) to set up Lavenue Investment Joint Stock Company.
* The Board of Directors authorized Mr. Nguyen Minh Xuan, BOD Chairman cum CEO, to manage all the contributed capital above.
On September 10, 2010, Lavenue Investment Joint Stock Company was granted Business License No. 0310306044 by the Department of Planning and Investment of Hochiminh City.
Lavenue Investment Joint Stock Company:
* Head office: 7th floor, Sun Wah, 115 Nguyen Hue, Ben Nghe, District 1, Hochiminh City.
* Business activity: Real estate business.
* Charter capital: VND100 billion, equivalent to 10,000,000 shares. In which:
+ Hochiminh City Metal Corporation, a foundation shareholder, contributes: 1,250,000 shares, worth VND12,500,000,000 (12.5% of charter capital).
+ On October 21, 2010, Hochiminh City Metal Corporation completed the settlement of 1,250,000 shares with a total amount of VND12,500,000,000.
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