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VCB: Resolution of the 2010 extraordinary shareholders’ meeting
Joint Stock Commercial Bank for Foreign Trade of Vietnam (HoSE: VBC) announced the resolution of the 2010 extraordinary shareholders’ meeting:
Article 1: Approving a plan of issuing new shares to increase the charter capital in 2010:
- Charter capital:
- Current charter capital: VND13,223,714,520,000.
- Increased capital: VND4,363,825,790,000.
- Charter capital after increasing: VND17,587,540,310,000.
- Stock type: The shares which will be issued are common shares, with par value of VND10,000/share.
- Total issue volume: 436,382,579 shares.
- Object of the issue: Existing shareholders whose names are in the list on the record date to buy additional shares.
- Exercise ratio: 33%. Each shareholder owning 100 shares at the record date will have right to buy 33 new shares. The number of shares distributed to each shareholder will be rounded down according to the principle: Under 1 will be rounded to 0.
- Issue time: Expected in late Quarter 4/2010 or early Quarter 1/2011 (Right after the approval from authorities).
- Issue price: VND10/000/share
Article 2: The meeting approved to adjust the charter capital in VCB’s Charter after the share issue.
Article 3: The meeting authorized the Board of Directors to:
- Fulfill necessary procedures to implement the share issue in order to raise 33% charter capital;
- Prepare necessary procedures to submit them to the State Bank of Vietnam for an approval for adjustment in VCB’s Charter;
- Decide to offer odd shares or undistributed shares (If any) to VCB’s Labor Union or other investors at a price not less than par value, or decide the increase in charter capital to match with the offered shares after the issue is finished.
- Execute procedures to list the new shares on the stock exchange.
Article 4: This resolution takes effect from November 09, 2010.
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