|
LGL: Resolution on a share offering to strategic partners
Long Giang Investment and Urban Development Joint Stock Company (HOSE: LGL)announced the resolution of the Board of Directors:
Article 1: Approving to offer the remaining shares to strategic partners:
1. Result of the private offering:
According to Resolution No.20/2010/NQ-HDQT dated August 26,2010 and License for the share offering No.693/UBCK-GCN dated, the Company expected to offer 2,500,000 shares to 03 institutions.
However, during the offering period, the securities market had some unfavorable, and the market price of stock LGL was low, just equal to 80% to 90% of the offering price (The book value at June 30, 2010). Therefore, there were difficulties in the offering:
* Number of shares registered to buy by the strategic partners: 1,500,000 shares
* Number of remaining shares from the offering: 1,000,000 shares
2. Distributing the remaining shares from the private offering:
The Board of Directors unanimously approved the distribution of 1,000,000 remaining shares to Mr. Le Ha Giang, BOD Chairman cum Director General of Long Giang Investment and Urban Development Joint Stock Company.
* Number of distributed shares: 1,000,000 shares
* Par value: VND10,000/share
* Stock type: Stock restricted to transfer within 01 year from the date of report of the offering’s result.
* Offering price: VND18,629/share.
Article 2: The Board of Directors authorized Mr. Le Hanh Tinh, a member of the Board of Directors cum Deputy Director General, to sign relating documents and fulfill necessary procedures to execute the article 1.
Article 3: This resolution takes effect from December 01, 2010.
hose
|
