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IJC: IJC to invest in new project and issue new shares
Becamex Infrastructure Development Joint Stock Company (HoSE: IJC) announced the resolution of the shareholders’ meeting on the investment in IJC Urban Area Project and a new share issue:
Article 1: The shareholders’ meeting approved the policy of building IJC Urban Area in the Binh Duong Industry Service Urban Complex with an area or 266,638 square meters. The project has a total investment of VND6,568 billion and time of implementation is estimated 5 years, from 2011 to 2015.
Article 2: The Board of Directors was authorized to fulfill procedures relating to the project.
Article 3: The shareholders’ meeting approved a plan of issuing new shares to increase IJC’s charter capital from VND548,389,050,000 to VND2,741,945,250,000.
- Stock type: Common stock
- Par value: VND10,000/share
- Outstanding volume: 219,355,620 shares
- Total issue value (Basing on par value): VND2,193,556,200,000.
- Object of the issue: The existing shareholders at the record date.
- Issue price: VND10,000/share
- Issue method:
+ Apportion ratio: 1:1 (Each shareholder owning 01 share will receive 01 right)
+ Exercise ratio: 1:4 (Each shareholder owning 01 right can buy 04 new shares)
+ The right should be transferred only once by 2 partners and not done again to the third one.
+ Undistributed shares (If any) will be offered to other investors by the BOD.
+ All of new shares will be listed on the Hochiminh Stock Exchange and deposited at the Vietnam
+ Securities Depository after the offering is finished.
- Plan of using the proceeds from the offering:
+ All proceeds, expected VND2,193,556,200,000, will be invest in IJC Urban Area in the Binh Duong Industry Service Urban Complex.
- Time of implementation: expected in Quarter IV/2010.
Article 4: The Board of Directors was authorized to:
Make a detail plan and choose an appropriate time to execute the offering and ensure interests of shareholders and the Company.
Adjusting the charter capital in the Company’s Charter after the offering is finished.
Execute necessary procedures of the offering.
Article 5: The shareholders’ meeting approved to list 219,355,620 new shares on the Hochiminh Stock Exchange and deposit them at the Vietnam Securities Depository.
Article 6: This resolution takes effect from November 08, 2010.
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