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96: Notice on capital use
Song Da No.9.06 Joint Stock Company (HNX: S96) announces the temporary use of proceeds in the issue certified by the State Securities Commission on 21/12/2009 for other purpose as follows:
- 15/03/2010, Song Da No.9.06 Joint Stock Company finished the issue to increase charter capital from VND 25bil. to VND 100bil.
According to the issue plan, total proceeds (VND 75bil.) will be invested in Hong Thai – Dan Phuong Urban Project. However, in 2010, this project was just in the phase of hiring design consultant.
- The Annual General Meeting of Shareholders 2010 approved the implementation of Song Da – Binh Tan Urban Project and Nam Xay Noi II hydroelectric power station Project. The disbursement process of these two projects is as follows:
Unit: VND mil.
|
|
Project |
Total investment |
Disbursement in 2010 |
Article |
Resources |
|
Equity |
Liability |
|
1 |
Song Da – Binh Tan Urban Project |
3,445,132 |
300,000 |
Land clearance |
65,000 |
235,000 |
|
2 |
Nam Xay Noi II hydroelectric power station Project |
291,298 |
100,000 |
Construction |
30,000 |
70,000 |
|
3 |
|
3,736,430 |
400,000 |
|
95,000 |
305,000 | - Because bank interest is instable, Song Da No.9.06 Joint Stock Company decides to use proceeds in the issue (VND 75bil.) to invest in Song Da – Binh Tan Urban Project and Nam Xay Noi II hydroelectric power station Project.
- When the Hong Thai – Dan Phuong Urban Project requires capital, Song Da No.9.06 Joint Stock Company would borrow from bank for Song Da – Binh Tan Urban Project and Nam Xay Noi II hydroelectric power station Project, and transfer capital back to Hong Thai – Dan Phuong Urban Project.
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